CTPL will enable the company to offer innovative application oriented special purpose tractors to farmers growing various crops such as ground nut, sugar cane and cotton, apart from orchard crops, she added.
While TAFE will extend reach of these tractors through its pan India network, Rajkot-based CTPL's dealers will also sell and service the new products.
The final contours of the arrangement are expected to be rolled out in the first quarter of the next financial year, Srinivasan said.
TAFE currently manufactures tractors in the 25 to 100 HP range with a significant percentage being exported to 67 countries worldwide.
Commenting on the partnership, CTPL Director Rajesh Patel said: "The strategic alliance with TAFE will boost our efforts to realise the true potential of India's market for small tractors."