Escorts Credit will cater to retail tractor loans to Escorts customers through convenient fast loan options. The agreement between Escorts Limited, and DLL, helps Indian farmers wanting to purchase Escorts tractors. Escorts Credit looks to provide easy and quick finance with customised repayment options linked to income cycles.
The development empowers farmers who cannot afford an all out cash purchase, giving smaller farmers a chance to join in the mechanisation of Indian agriculture. Rajan Nanda, Chairman and Managing Director, Escorts Limited says the company plays a responsible role in nation building by customising products and solutions to suit national interest. The partnership with DLL as furthers Escorts’ vision of an empowered farmer.
An objective of eradicating poverty and making agricultural solutions accessible to Indian farmers sees the DLL partnership as a big step in the right direction. Nikhil Nanda, Managing Director, Escorts Limited says ‘Customer Centricity’ is at the core. Escorts continues to provide solutions to create more value for farmers, and provide an impetus to agricultural mechanisation in India. Partnering with DLL bolsters extending accessibility of Escorts’ agri-machinery products to Indian farmers who are becoming more progressive and aspirational. Escorts Credit is an enabler to help purchase tractors more conveniently than before.
Geert Kraak, Director and Country Manager, DLL India says this is the company’s first foray in Indian agriculture sector. DLL is a global provider of asset based financing solutions and Escorts is a leading Indian engineering conglomerate. Both will work towards making farming easy, and a profitable venture in India as farmers are empowered to purchase.
Tom Meredith, President of DLL’s Global Food and Agri Business Unit says the agreement fits perfectly with DLL’s ambition to grow its footprint in developing markets. India being the largest tractor market globally in number of units sold is a crucial development destination. The agreement was signed by Rajan Nanda on behalf of Escorts Limited, and Tom Meredith, on behalf of DLL in presence of Nikhil Nanda, Frans Janssen, General Manager– Asia Pacific Region, DLL, S. Sridhar, CEO, Escorts Agri Machinery and Sameer Tandon, CSMO, Escorts Agri Machinery.