Escorts Limited has signed a
partnership agreement with DLL Group’s Indian subsidiary (De Lage Landen
Financial Services India Private Limited, hereafter DLL) to launch “Escorts
Credit” which will provide retail tractor loans to Escorts customers with
convenient and fast loan options.
The agreement was signed by Rajan
Nanda, Chairman cum Managing Director on behalf of Escorts Limited and Tom
Meredith, President - Global Business Unit, Food & Agri on behalf of DLL in
presence of Nikhil Nanda, Managing Director, Escorts Limited and Frans Janssen,
General Manager– Asia Pacific Region, DLL. Also present on the occasion were S.
Sridhar, CEO, Escorts Agri Machinery and Sameer Tandon, CSMO, Escorts Agri
This agreement between Escorts
Limited, India’s leading tractor manufacturer, and DLL, a fully owned
subsidiary of the Netherlands headquartered Rabobank – one of the world’s
leading banks in the food & agriculture sector, will help Indian farmers,
who wish to purchase Escorts tractors, by providing easy and quick finance with
customised repayment options linked to their income cycles. This partnership will
also be able to empower farmers who cannot afford an all out cash purchase of
the machine, thereby giving impetus to mechanisation of Indian agriculture.
Rajan Nanda said, “Escorts has
always played a responsible role in nation building by customizing its products
and solutions around national interest. Our partnership with DLL will be yet
another step towards fulfilling Escorts’ vision of an empowered farmer, by
delivering prosperity to his doorstep. With the objective of eradicating
poverty and making agricultural solutions accessible to every farmer in the
country, I am sure this association will be a stepping stone in the right
Nikhil Nanda said, “With Customer
Centricity as our core, Escorts has been devising solutions that help create more
value for farmers, and provide the much-needed impetus to agricultural
mechanization in the country. We are happy to partner with DLL to further
extend the accessibility of Escorts’ agri-machinery products to farmers who
seek easy and customized financing solutions. As the Indian farmer becomes more
progressive and aspirational, Escorts Credit will serve as an enabler to help
him buy tractors of his choice, more conveniently than ever before.”
“We are pleased to sign this agreement with
Escorts, heralding our first foray in India’s agriculture sector. We are a
global provider of asset based financing solutions and Escorts is one of
India’s leading engineering conglomerate with most trusted agri-machinery
equipment. I am sure, together we shall make farming easy, more attractive and
a profitable venture in India by enabling farmers to buy the tractor of their
choice,” said Geert Kraak, Director and Country Manager, DLL India.
Tom Meredith said that “This
agreement fits perfectly with our ambition to grow DLL’s footprint in
developing markets, and India being the largest tractor market globally in
number of units sold is on top of our list to develop., We are very happy to do
so with a trusted name like Escorts”.
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