Former Tech Mahindra India biz head Mitra quits to set up AI startup

Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore.

The startup is likely to commence operations in the next three months.

“We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million,” Mitra — one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned — told PTI.

“Cost arbitrage factor, driven by manpower, is going to be seriously impacted. It will be driven by values. We need to move from a cost-driven proposition to a value-driven proposition.