Monday, June 24

Tech Mahindra to set up Centre of Excellence in Toronto; Invests C$100 Mn

The Indian Multinational provider of IT, Tech Mahindra said that it would invest 100 million Canadian dollar over five years to set up a centre of excellence in artificial intelligence (AI) and block-chain. The news comes in light when the Prime Minister of Canada Justin Trudeau is visiting India with his family to promote enhanced bilateral collaboration between India and Canada.

The company said that the investment is planned to focus on emerging technologies that are making innovations in industries. It further will serve to smart cities projects and fintech companies.

Previously, Tech Mahindra had invested in startups working under the domain of automation, internet-of-things and artificial intelligence.

The centre of excellence which will be set up in Toronto, would develop business solutions in digital technologies with academic institutes, innovators and accelerators in the start-up environment. The company said in a statement,

“It will pave the way for Canadians and Indians to access cutting-edge technology, while creating a niche talent pool and job opportunities in next-gen technology areas.”

C P Gurnani, CEO & MD, Tech Mahindra said in a statement,

“This strategic partnership between the Canadian govt. and Tech Mahindra has tremendous socio- economic synergy, considering the common values of both countries.”

Mahindra & Mahindra is being really quick with its investments in different sectors and businesses. It has recently promised to built an electric vehicle manufacturing plant in Uttar Pradesh.