CURRENT AFFAIRS

Detailed explanation-1: -TAFE – Tractors and Farm Equipment Limited, is an Indian tractor major incorporated in 1960 at Chennai, with an annual turnover of INR 10, 000 crores. The third-largest tractor manufacturer in the world and the second largest in India by volumes, TAFE sells over 180, 000 tractors (domestic and international) annually.

Detailed explanation-2: -TAFE – Tractors and Farm Equipment Limited, is an Indian tractor manufacturer incorporated in 1960 at Chennai, with an annual turnover of INR 10, 000 crores.

Detailed explanation-3: -TAFE’s partnership with AGCO Corporation and the Massey Ferguson brand for over 58 years is a stellar example of its commitment to building long-term relationships with its stakeholders, through fair and ethical business practices.

Detailed explanation-4: -A bigger reason for Tafe’s success is what Mallika did in 2005. She led its acquisition of Eicher’s tractor business. It gave Tafe an entry into low horsepower tractors, and also in markets where it didn’t have a footprint.

Detailed explanation-5: -IMT has been bought by TAFE, which is also IMT’s partner for many years, at a public auction. While Serbian news sites and reports stated that the deal was valued at about ₹4.5 crore, Mallika Srinivasan, Chairman and CEO, TAFE, said she was not in a position to confirm the deal size.