Indian technology company LTIMindtree has signed an MOU with Eurolife FFH, an insurance company based in Athens, Greece’s capital.

The MOU enables the two companies to build a GenAI and digital hub in Athens, along with dedicated facilities in Poland, Europe and Mumbai, India.

The MOU was signed in the presence of Kyriakos Mitsotakis, Greece’s prime minister, who was paying a visit to the residence of the Greek Ambassador in Delhi, Aliki Koutsomitopoulou. The ceremony was also attended by Sudhir Chaturvedi, president and executive board member at LTIMindtree, and Alexandros Sarrigeorgiou, chairman and CEO of Eurolife FFH Insurance Group.

According to Sarrigeorgiou: “This partnership is aligned with our ambition of leveraging the power of advanced technology to deliver innovation for our customers and partners. Our goal is to innovate, specifically in the insurance space, and push boundaries to create solutions that meet the evolving needs of customers across various other industries.”

For officials in Athens, the move signals an economic rebound following years of debt crisis and sluggish growth. In 2022, Ioannis Smyrlis, secretary-general for international economic relations and openness and president of Enterprise Greece – an investment promotion agency – said foreign direct investment (FDI) inflows in 2021 reached $5bn (€5.04bn), the highest sum recorded since 2002.

LTIMindtree is a company providing global technology consulting services and digital solutions. Chaturvedi also welcomed news about the digital hub in Athens, adding: “Together, we engineer a convergence of technological prowess, laying the foundations for creating leading-edge industry solutions to enable revenue generation and cost optimisation for businesses with a focus on enhancing customer experience.

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“This partnership exemplifies the fusion of diverse cultures and shared visions, which will shape the future landscape of artificial intelligence and digital transformation.”