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Tech Mahindra, one of India’s top software companies, has signed a memorandum of understanding (MoU) with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia, to set up data and AI, and cloud Center of Excellence (CoE) in Riyadh. The announcement supports ‘Vision 2030’, a strategic long-term digital-led development of Saudi Arabia which aims to diversify from the oil market to technology and economic development with private players.
The MoU was signed by Ibrahem N. Al- Nasser, deputy minister of technology, MCIT, and Ram Ramachandran, head- Middle East and Africa, Tech Mahindra, in the presence of officials from the Saudi government and top management of Tech Mahindra. The CoE will promote employment by building hi-tech talent capacity and accelerate digital innovation and small and medium enterprises (SMEs). Tech Mahindra will drive adoption and development across Ethical AI and Data Analytics.
Saudi Arabia has attracted global investors in technology and development in recent times. According to the Saudi Press Agency, the country is set to spend $24 billion on several technologies by 2025. Over 700 Indian companies from diverse sectors, such as consultancy, construction, telecom, IT, etc, operate in Saudi Arabia.
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At LEAP Tech 2023 conference in Riyadh, the Saudi government received investments of over $9 billion in future technologies, especially in cloud infrastructure. International players such as Microsoft have committed $2.1 billion to the global superscalar cloud. Oracle will invest $1.5 billion for launching new cloud regions. $ 1.1 billion will be invested for setting up Zoom cloud in Saudi Arabia, and $400 million from Huawei for cloud infrastructure. Indian IT and consulting company Wipro has also committed to developing Saudi talent in four sectors, focussing on cloud computing and crowdsourcing.
Haitham Alohali, vice-minister at MCIT, Saudi Arabia, said that cloud data and AI will play a significant role in their country’s IT and digital growth and believes that the collaboration with Tech Mahindra will bring “global expertise and assets” in the coming years. CP Gurnani, MD and CEO of Tech Mahindra, considers the partnership with MCIT a step towards achieving “the fast-changing digital transformation needs of Saudi Arabia”.
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With focused growth in the Middle East, Saudi opens up doors for International markets. Having been restricted to oil alone, Saudi Arabia is now progressing in the technology space and looks to not only provide an environment but to build human capacity for future generations. India can get a foothold in their nascent AI and technology market and work towards further collaborations. Saudi Arabia is India’s fourth largest trading partner after the US, China, and UAE (fiscal year 2021-22), accounting for $43 billion in bilateral trade.
