The alliance would also involve launching a joint go-to-market (GTM) strategy, thus giving a boost to the competitiveness of both companies in the global marketplace, by leveraging each other's core strengths.
"This partnership enables us to implement our unique solutions along with Huawei's innovations and latest ICT infrastructure to bring faster ROI for our customers," Manoj Chugh, President, Enterprise Business at Tech Mahindra, said in a statement.
"That is to help our global enterprise customers be better positioned in their journey towards digital transformation. As specialists in our respective domain, we now work together to present competitive solutions for the global enterprise market," added Derek Hao, President, Enterprise Business Group, Huawei India.
Under this partnership, Tech Mahindra would take Huawei's enterprise products and services and build solutions around various platforms and solutions of Tech Mahindra.
The platforms and solutions are in areas of Internet of Things (IoT) such as connect care, connected cars and connected factories, and solutions in areas of utilities such as smart cities, smart metering and smart grids.
The Sensex touched a fresh life time high of 39,571.73 during the opening session of the trade on Tuesday.
At 9.29 a.m., it was trading at 39,463.23, up 110.56 points or 0.28 per cent after it opened at 39,449.45 from its Monday's close of 39,352.67.
The Nifty was trading at 11,855.15, over 26 points or 0.23 per cent higher. It opened at 11,863.65 after closing at 11,828.25 on Monday.
The gains came as most exit polls on Sunday predicted that the BJP-led NDA will comfortably win a majority in the Lok Sabha elections. The poll results are scheduled on May 23.
The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit its report by the end of August 2019.
The RBI said that the terms of reference of the task force would include review of the existing state of the market for loan sale or transfer in India as well as the international experience in loan trading.
Further the task force will be required to make recommondations on "required policy or regulatory interventions for facilitating development of secondary market in corporate loans, including loan transaction platform for stressed assets".
Also, it will work for the "creation of a loan contract registry to remove information asymmetries between buyers and sellers, its ownership structure and related protocols such as standardization of loan information, independent validation and data access".
The secondary loan market in India, the RBI said, is largely restricted to sale to asset reconstruction companies and ad hoc sale to other lenders including banks, and no formalised mechanism has been developed to deepen it.
"A vibrant, deep and liquid secondary market for debt would go a long way in increasing the efficiencies of the debt market in general and would aid in resolution of stressed assets in particular," the central bank said.
A well-developed secondary market for debt would aid in transparent price discovery of the inherent riskiness of the debt being traded, it said.
Additionally, the RBI said such price discovery would spur innovations in the securitisation market as well as invigorate dormant markets such as corporate credit default swaps (CDS).
"These would in turn provide with early warning signals regarding the riskiness of the debt being held by the banks which would incentivize improving the underwriting and origination standards," it added.