<p>New Delhi: The 50 per cent tariff on Indian products imposed by US President Donald Trump administration is temporary and is likely to be substantially reduced when the two countries finalise a trade deal, Chief Executive Officer of New York Stock Exchange-listed agricultural and construction equipment firm CNH Gerrit Marx said on Tuesday.</p>.<p>“The 50 per cent tariff is not going to stay. If it stays we are going to live in a different world,” Marx told reporters at its Greater Noida manufacturing plant.</p>.<p>On CNH’s exports to the US from its Indian manufacturing facilities, Marx said the shipments have been paused following the implementation of the 50 per cent tariffs.</p>.<p>CNH exports New Holland tractors and CASE construction equipment from India to the US. Tractors are manufactured at CNH’s facilities at Greater Noida and Pune while the company manufactures construction equipment at its Pithampur, Madhya Pradesh, plant.</p>.<p>CNH India President and Managing Director Narinder Mittal said the company exported around 14,000 tractors in 2024, out of which around 30 per cent went to the US. The balance is exported to European and African countries. The total number of tractors produced by CNH in India stood at 51,000 units in 2024, out of this 37,000 was sold locally.</p>.India, China should jointly counter Washington's unfair tariffs: Chinese envoy.<p>Marx, who joined CNH as CEO in July 2024, said the company bets big on India growth. “Our goal is to increase our share in India’s tractor market to double digit in five to six years,” he said.</p>.<p>CNH’s New Holland brand has around 4-5 per cent share in India’s tractor market dominated by Mahindra, TAFE Limited, Sonalika and Escorts Kubota. Annual sale of tractors in India is around 900,000 units.</p>.<p><strong>New plant coming up</strong></p>.<p>Marx announced that CNH would set up a new manufacturing unit in India to boost its production. The company is in the process of acquiring land for the proposed unit. On the proposed investments and timeline, Marx said it would be disclosed in due course of time.</p>.<p>Marx said the first major decision he took as CEO of the company was to designate India as a standalone region for CNH’s global business operation perspective. Earlier CNH used to classify India as part of its Asia-Pacific region.</p>.<p>“India is not an appendage of Asia Pacific. It is a region in itself. We compete here as an Indian player and we are investing here for the long-term,” Marx said.</p>.<p>On the impact of the US tariff on CNH’s India expansion plans, Marx said, “I am very hesitant right now to move production from one place to another because of tariffs that we didn’t know eight months ago and maybe they will look different eight months from now.” </p>
<p>New Delhi: The 50 per cent tariff on Indian products imposed by US President Donald Trump administration is temporary and is likely to be substantially reduced when the two countries finalise a trade deal, Chief Executive Officer of New York Stock Exchange-listed agricultural and construction equipment firm CNH Gerrit Marx said on Tuesday.</p>.<p>“The 50 per cent tariff is not going to stay. If it stays we are going to live in a different world,” Marx told reporters at its Greater Noida manufacturing plant.</p>.<p>On CNH’s exports to the US from its Indian manufacturing facilities, Marx said the shipments have been paused following the implementation of the 50 per cent tariffs.</p>.<p>CNH exports New Holland tractors and CASE construction equipment from India to the US. Tractors are manufactured at CNH’s facilities at Greater Noida and Pune while the company manufactures construction equipment at its Pithampur, Madhya Pradesh, plant.</p>.<p>CNH India President and Managing Director Narinder Mittal said the company exported around 14,000 tractors in 2024, out of which around 30 per cent went to the US. The balance is exported to European and African countries. The total number of tractors produced by CNH in India stood at 51,000 units in 2024, out of this 37,000 was sold locally.</p>.India, China should jointly counter Washington's unfair tariffs: Chinese envoy.<p>Marx, who joined CNH as CEO in July 2024, said the company bets big on India growth. “Our goal is to increase our share in India’s tractor market to double digit in five to six years,” he said.</p>.<p>CNH’s New Holland brand has around 4-5 per cent share in India’s tractor market dominated by Mahindra, TAFE Limited, Sonalika and Escorts Kubota. Annual sale of tractors in India is around 900,000 units.</p>.<p><strong>New plant coming up</strong></p>.<p>Marx announced that CNH would set up a new manufacturing unit in India to boost its production. The company is in the process of acquiring land for the proposed unit. On the proposed investments and timeline, Marx said it would be disclosed in due course of time.</p>.<p>Marx said the first major decision he took as CEO of the company was to designate India as a standalone region for CNH’s global business operation perspective. Earlier CNH used to classify India as part of its Asia-Pacific region.</p>.<p>“India is not an appendage of Asia Pacific. It is a region in itself. We compete here as an Indian player and we are investing here for the long-term,” Marx said.</p>.<p>On the impact of the US tariff on CNH’s India expansion plans, Marx said, “I am very hesitant right now to move production from one place to another because of tariffs that we didn’t know eight months ago and maybe they will look different eight months from now.” </p>