The deal will see PMG, headed by Gavaskar and co-owned by Sam Balsara, chairperson Madison World and Noomi Mehta, chairperson and managing director Selvel One Group, manage 17-year-old Sarfaraz's all commercial dealings.
Having entered the spotlight as a 12-year-old for posting a record breaking score in the famed Harris Shield inter-school tournament in Mumbai, Sarfaraz went on to leave his mark on the international stage with an impressive showing at the 2014 Under-19 World Cup where he finished as India's third highest run-getter.
"I am very happy to sign for PMG. To be associated with a company run by one of India's greatest ever cricketers in Sunil Gavaskar will surely help me take my career to the next step," Sarfaraz said.
Gavaskar, director of PMG added: "I have had the pleasure of watching Sarfaraz bat on a few occasions and he certainly comes across as an exciting young talent. I hope his association with PMG can be a stepping stone towards helping him fulfil his immense potential."