Infibeam Avenues Ltd signs Rs 2000 crore MOU with Gujarat Government at Vibrant Gujarat Global Summit 2024

Bengaluru, January 9, 2024: Infibeam Avenues Ltd, an AI-powered fintech company, is pleased to announce its participation in the 10th edition of the Vibrant Gujarat Global Summit (VGGS) 2024. The company has signed a Memorandum of Understanding (MoU) with the Gujarat Government, with a proposed investment of Rs 2000 crore by the financial year 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 signing ceremony took place at Swarnim Sankul, New Sachivalaya, Gandhinagar, and was presided over by the Honourable Chief Minister of Gujarat, Mr. Bhupendra R Patel, along with other distinguished ministers and top government officials.
 

Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, expressing the company's enthusiasm for the collaboration with the Gujarat government, 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."