31.3 C
Delhi
Monday, June 30, 2025

Infibeam Avenues signs MoU with Gujarat govt for Rs 2K crore investment

Date:

Share post:

Donate-GC-Razorpay

Ahmedabad: Infibeam Avenues Ltd. said on Tuesday that it has signed a Memorandum of Understanding (MoU) with the Gujarat government proposing an investment of Rs 2,000 crore by 2030 in its Artificial Intelligence (AI) Hub for developing cutting-edge vision AI technology for payments and platforms specifically tailored for retailers.

“This MoU with the Gujarat Government underscores Infibeam Avenues Ltd’s steadfast commitment to strengthen India’s AI landscape and promote collaboration to facilitate the growth and adoption of AI technology among retailers in the country,” the company said in a statement.

The MoU was signed at the ongoing Vibrant Gujarat Global Summit (VGGS) 2024.

Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, said, “With this MoU, we aim to fortify our partnership with the Gujarat government, opening up avenues for growth for retailers across the country. The incorporation of AI technology will not only elevate the competitiveness of retailers but also position Gujarat as a leading AI hub for innovative solutions in the rapidly expanding Indian retail sector.”

The company said that the MoU signifies the long-term relationship with the Government of Gujarat, where the government will play a facilitative role, assisting Infibeam Avenues Ltd in obtaining necessary permissions, registrations, approvals, and clearances from relevant state and central government departments in accordance with existing policies, rules, and regulations.

Related articles

IITEX 2025 concludes in Hyd; Minister Sridhar Babu calls for expansion to tier-2 and tier-3 cities

Hyderabad: The second edition of the Industrial Innovation & Technology Expo (IITEX 2025), organised by the Federation of...

Kyrgyz president discusses bilateral, multilateral cooperation with Russian FM

Bishkek: Kyrgyz President Sadyr Japarov met with visiting Russian Foreign Minister Sergey Lavrov yesterday in the resort town...

Former Pentagon Aide claims US warned Iran about strikes 2 hours before attack

Washington: Former Pentagon adviser, retired US Army Col. Douglas Macgregor claims that Washington warned Iran about strikes on...

Iran strikes-damaged Haifa refinery likely to restart by October: Reports

Jerusalem: The Haifa refinery, which was damaged by Iran's strikes, is likely to fully resume operations by October,...