India’s tractor industry achieved a historic milestone in FY 2025-26, crossing the 10 lakh unit mark for the first time in history with retail sales reaching 10,50,077 units — an 18.95 percent increase from 8,82,825 units sold in FY25. This made India’s tractor segment the fastest-growing vehicle category tracked by FADA, outpacing both two-wheelers and passenger vehicles. Growth was supported by a strong south-west monsoon, robust rabi sowing, improving farm incomes, and PM-Kisan quarterly disbursements infusing rural liquidity. Mahindra and Mahindra’s combined tractor franchise spanning the Mahindra and Swaraj brands retailed a combined 4,46,948 units in FY26, representing an extraordinary 42 percent market share — the highest domestic tractor market share of any single brand in any major tractor market globally. India’s agricultural tractor machinery market was worth USD 3.99 billion in 2026, growing at a CAGR of 10.93 percent to reach USD 6.71 billion by 2031. Let us have a look at the top 10 tractor companies in India for the year 2026.
1. Mahindra and Mahindra Limited (Tractor Division)
Mahindra and Mahindra, the world’s largest tractor manufacturer by volume, has dominated India’s tractor market for over 35 years with its Mahindra brand alone accounting for 23.81 percent market share at 2,49,973 units in FY26, commanding approximately 42 percent combined domestic market share when its Swaraj division is included. The company’s 1,200 plus dealer network, broad model lineup across 15 to 74 HP, and captive finance arm that approved 228,000 loans in FY25 create an unassailable distribution and financing moat alongside its Krish-e precision farming platform.
Mahindra Tractor Division serves India’s small, medium, and large farmers across every state with its comprehensive Mahindra and Swaraj brand lineup, and its extraordinary 42 percent combined market share reflects deeply entrenched brand trust, financing ecosystem, and service network that make Mahindra tractors the default choice for hundreds of thousands of Indian farm equipment purchasers annually.
2. Mahindra Swaraj Division
Swaraj, a brand under Mahindra and Mahindra’s Farm Equipment Sector, retained second position individually with 15,205 units in May 2026 and a market share of 18.30 percent in FY26 with 1,96,975 units, making it effectively a separate brand within the Mahindra family that often ranks independently in monthly tractor sales data. Originally developed as an indigenous Indian tractor by Punjab Tractors Limited and later acquired by Mahindra, Swaraj has maintained a distinct brand identity particularly strong in Punjab, Haryana, and northern states.
Swaraj serves India’s Punjab, Haryana, and North Indian farming communities with its rugged and trusted tractor range, and its distinct brand positioning within the Mahindra family allows it to maintain independent brand loyalty particularly among smaller and marginal farmers who prefer Swaraj’s simplicity, durability, and strong rural service network.
3. International Tractors Limited (Sonalika)
International Tractors Limited, selling tractors under the Sonalika brand, held third place in FY26 with a 12.76 percent share at 1,34,030 units, retailing 11,120 units in May 2026 with 12.72 percent year-on-year growth. The Sonalika brand is particularly dominant in Punjab and Haryana where it ranks among the highest brand loyalty markets in India, and the company leverages TAFE’s Massey Ferguson technology licence alongside its own Indian engineering to offer competitive products across the 30 to 75 HP range.
Sonalika serves North Indian farming communities with its technologically competitive tractor range at value pricing, and its strong market position in the agriculturally productive farming communities of Punjab and Haryana reflects decades of relationship-building with farmers who associate Sonalika with reliable mechanical performance and accessible service networks.
4. Tractors and Farm Equipment Limited (TAFE)
Tractors and Farm Equipment Limited, known as TAFE and a privately held company headquartered in Chennai as a licensee of Massey Ferguson technology, retained 11.27 percent market share in FY26 with 1,18,326 units and delivered the strongest growth among major tractor OEMs in May 2026 with 42.05 percent year-on-year unit growth. TAFE’s JFarm Services app aggregates custom hiring demand, accelerating fleet utilization, and the company leverages Massey Ferguson technology alongside African export volumes to amortize R&D across global markets.
TAFE serves Indian farmers in South and West India with its Massey Ferguson-branded tractors and is expanding rapidly with the strongest growth rate among major OEMs in 2026, with its technology-driven performance and global distribution through the Massey Ferguson brand making it the most internationally connected Indian tractor manufacturer.
5. Escorts Kubota Limited
Escorts Kubota, a joint venture between Escorts Limited and Japan’s Kubota Corporation, was the standout performer in FY26 climbing from 9.93 percent to 10.90 percent market share with 1,14,468 units and volume growth of 30.6 percent — the highest among the top five. The Kubota partnership is delivering through technology transfers in Japanese hydraulics and precision engineering, upgraded products incorporating Kubota’s expertise, and a broader dealer network making Escorts Kubota the highest quality pure-play tractor stock cited by institutional analysts.
Escorts Kubota serves Indian farmers seeking technologically advanced tractors with Japanese Kubota engineering for precision hydraulics and specialty farming applications, and its accelerating market share growth is the clearest evidence that the Kubota technology transfer is beginning to differentiate its products in an increasingly competitive Indian tractor market.
6. John Deere India Private Limited
John Deere, the American agricultural equipment giant founded in the year 1837 and operating its Indian manufacturing out of Pune, is positioned as a premium tractor brand in India offering models from 28 to 130 HP with strong resale values and advanced technology. John Deere maintained a 7.63 percent market share in FY26 with 80,086 units, focusing on the 55 HP and above premium segment and bundling telematics and precision farming packages including GPS-guided auto-steering and the Operations Center platform.
John Deere India serves India’s progressive large farmers and commercial farm operators who pay premium prices for the best technology, highest resale values, and most extensive dealer service quality, and its Operations Center digital platform represents the most sophisticated farm data management system available in India’s tractor market.
7. Eicher Tractors (TAFE Subsidiary)
Eicher Tractors, operating as a subsidiary of TAFE and retailing 4,922 units in May 2026 with 10.60 percent year-on-year growth, holds a 6.21 percent market share in FY26 with 65,215 units. The brand has built a following in the medium to large farm segment and benefits from TAFE’s manufacturing and distribution infrastructure alongside its distinct brand positioning in the organised commercial farming and larger landholding segment.
Eicher Tractors serves Indian farmers in the medium and large landholding segment with its tractor range, and its position within the broader TAFE and Massey Ferguson group provides manufacturing scale and technological resources that support its competitive market positioning.
8. New Holland Agriculture (CNH Industrial)
New Holland Agriculture, part of CNH Industrial N.V. and one of the world’s most respected agricultural equipment brands, posted the strongest growth rate among smaller tractor brands with 24.29 percent year-on-year growth in May 2026, improving to 4.64 percent market share with 47,122 units in FY26. The brand focuses on premium planters, precision farming technology, and the 4WD premium segment, with CNH’s partnership with Bosch Limited for emission after-treatment positioning it for upcoming emission compliance standards.
New Holland Agriculture serves India’s premium and commercial farmers seeking the highest international agricultural equipment technology standards, and its strong growth momentum in 2026 reflects success in capturing demand from larger commercial farming operations and technically sophisticated farmers who prioritise international brand quality and precision farming technology integration.
9. VST Tillers Tractors Limited
VST Tillers Tractors, headquartered in Bengaluru and specialising in mini tractors and power tillers, serves the below-20 HP compact tractor segment that is growing at 9 to 11 percent annually fuelled by horticulture and polyhouse cultivation expansion in Maharashtra, Himachal Pradesh, and the North-East. The company’s purpose-built models targeting smallholder and specialty farming applications represent a distinct market niche not directly addressed by the larger HP-focused strategies of Mahindra, Escorts Kubota, and John Deere.
VST Tillers Tractors serves India’s small and marginal farmers, horticulturalists, and specialty crop growers with its compact tractor and power tiller range, and its focus on the below-20 HP segment where national-scale distribution advantages of larger OEMs are less decisive gives it a defensible niche in India’s diverse agricultural equipment market.
10. Force Motors Limited
Force Motors Limited, headquartered in Pune and known primarily for multi-utility vehicles and light commercial vehicles, also manufactures agricultural farm implements and serves the farm mechanisation market alongside its broader automotive products. The company is cited among India’s significant tractor and farm equipment players and benefits from the rural mechanisation push driven by government subsidy programs, improving rural credit, and increasing adoption of machinery in place of farm labour.
Force Motors serves the Indian agricultural market with its farm equipment and mechanisation products alongside its core automotive business, and represents the broader category of diversified industrial manufacturers participating in India’s fast-growing agricultural mechanisation ecosystem rather than pure-play tractor specialists.
Frequently Asked Questions (FAQs)
Q: Which is the largest tractor company in India in 2026?
A: Mahindra and Mahindra is the world’s largest tractor manufacturer by volume and India’s undisputed market leader, with its combined Mahindra and Swaraj brands accounting for 42 percent of India’s total tractor market. The Mahindra brand alone commanded 23.81 percent market share in FY26 with 2,49,973 units, while Swaraj contributed a further 18.76 percent with 1,96,975 units.
Q: Has India’s tractor industry crossed the 10 lakh unit mark?
A: Yes, India’s tractor industry achieved a historic milestone in FY 2025-26 crossing the 10 lakh unit mark for the first time, with retail sales reaching 10,50,077 units — an 18.95 percent increase from 8,82,825 units in FY25. India’s tractor segment was the fastest-growing vehicle category in FY26, outpacing both two-wheelers and passenger vehicles.
Q: Why did India’s tractor sales grow so strongly in FY26?
A: The record tractor sales were supported by a strong south-west monsoon improving kharif crop harvests and farm incomes, robust rabi sowing, PM-Kisan quarterly cash disbursements of approximately USD 2.5 billion in August 2025 boosting rural liquidity, improving access to credit through fintech-backed lending, and replacement demand from the FY18-FY21 tractor sales peak creating upgrade cycles.
Q: Which tractor company showed the fastest growth in India in 2026?
A: Escorts Kubota showed the most notable improvement in market share in FY26, climbing from 9.93 to 10.90 percent with volume growth of 30.6 percent. Among major OEMs by monthly growth rate in May 2026, TAFE delivered the strongest growth at 42.05 percent year-on-year, while CNH Industrial also performed strongly at 24.29 percent year-on-year growth.
Q: What technology trends are shaping India’s tractor industry in 2026?
A: Key trends include GPS-guided auto-steering and telematics in premium models by John Deere and Mahindra, TREM IV emission compliance requiring upgraded fuel injection across all OEMs, digital ecosystems including app-based service bookings and parts e-stores, precision farming integration through platforms like Mahindra’s Krish-e, and early-stage electric tractor development by Mahindra, Escorts Kubota, and New Holland for potential commercial launches from 2026 onward.
