Not only do they source from them and have their own factories in India, they also have assembly plants in the US, Australia, China, and Africa. As far as I know, models they source from TYM and Mitsubishi are shipped globally, models made in India are shipped globally, models made in the US are shipped throughout North America, models made in Africa stay mostly in Africa and the Middle East, and models made in China or Australia stay in China or Australia.
I'm generally a big "buy local" advocate; but in needing a tractor the size I needed, I knew I wasn't getting anything 100% USA built. I did the research into the companies and their histories and in the end I had no qualms about purchasing a Mahindra tractor made in India. Most of their "know how" comes from building International Harvester designs and engine designs are a lot like the old Perkins replaceable wet-sleeve motors (some have interchangeable parts). They use good quality Bosch injection and emission systems. Their loaders, backhoes, and most of their other implements are all 100% USA made. Their backhoes and front loaders are outfitted with great quality US made KURT hoses, and also have (in my opinion) the best subframe connections to the tractor of all the manufacturers. The FEL subframes reach to both axles to distribute load, the backhoe subframes reach up near the front axles to distribute load. All the extra strength and steel in these subframes helps to add weight down low which improves stability while using the FEL and BH. The front axle on the 40HP class Mahindra was much heavier than competitors which also makes a big difference for FEL work.