The formal signing took place on February 20, 2026, during the historic India AI Impact Summit in New Delhi. The agreement was inked by Shri S. Krishnan, Secretary of India’s Ministry of Electronics and IT (MeitY), alongside US Ambassador to India Sergio Gor and Under Secretary of State for Economic Affairs Jacob Helberg . This accession places India at the heart of a “trusted” and innovation-driven alternative to concentrated dependencies in the global silicon stack—from raw minerals to frontier AI models—and marks a strategic convergence between the world’s largest democracy and one of its fastest-growing technology ecosystems .

The Bengaluru-headquartered startup, valued at over $1.2 billion in its last funding round, confirmed on February 20, 2026, that it is laying off approximately 5% of its workforce—around 200 employees—as part of a comprehensive pivot toward AI-driven automation across its operations . The announcement came alongside news that Co-founder & COO Saurabh Jain is stepping down from his operational role after nearly a decade with the company, though he will continue as a shareholder and advisor during the transition . This development places Livspace among a growing cohort of Indian consumer-tech companies making difficult but forward-looking decisions to integrate AI deeply into their business models—even when it means parting ways with long-time leaders and valued team members .