India Semiconductor Mission, CG Power and CG Semi sign financial assistance agreement

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1 India Semiconductor Mission, CG Power and CG Semi sign financial assistance agreement

 Reflecting a significant progress in India’s journey to develop  a robust  semiconductor manufacturing ecosystem , a Fiscal Assistance Agreement (FSA) was signed by India Semiconductor Mission,  CG Power and Industrial Solutions Ltd  and  CG Semi Private Limited on January 17, 2025.  This is a significant step in India’s efforts to strengthen its semiconductor manufacturing through CG’s OSAT facility, which was approved under the Revised Programme for Development of Semiconductor and Display Manufacturing Ecosystem. CG Power and Industrial Solutions Ltd is  setting up  its Semiconductor OSAT unit   in  Sanand, Gujarat . The unit is in partnership with Renesas Electronics America Inc. and Stars Microelectronics (Thailand) Public Company Limited  , with a total investment (project) of around Rs 7,600 crore. The project will benefit from 50% fiscal support on a matched basis for eligible capital expenditure from the India Semiconductor Mission, reflecting the Government of India’s commitment to strengthen India’s position as a key player in the global semiconductor value chain.

2 Announcement to rename Jaffna’s cultural center as ‘Thiruvalluvar Cultural Center’

 High Commissioner of India to  Sri Lanka Santosh Jha  and Minister of Buddhism, Religious and Cultural Affairs of Sri Lanka  Hiniduma Sunil Senevi  announced  the  renaming of the Jaffna Cultural Centre  as ‘ Thiruvalluvar Cultural Centre ‘. The decision was taken in tribute and honour of the great Tamil poet and philosopher Thiruvalluvar  . Built with Indian assistance of USD 12 million, the state-of-the-art centre comprises a museum, a 600-seat auditorium and an 11-storey learning tower. It was inaugurated in 2022 and dedicated to the people of Sri Lanka in 2023. Sri Lankan Minister Senevi highlighted Thiruvalluvar’s message of compassion and Dharma and presented the great poet’s work   Tirukkural translated into Sinhala language to the Indian High Commissioner.

3 India and the US signed a Memorandum of Understanding for cooperation and information sharing in digital forensics

India and US  share  cyber threat intelligence and criminal investigations The two countries have signed a Memorandum of Understanding for cooperation and information sharing in digital forensics-matters in China. In a social media post, Ministry of External Affairs spokesperson  Randhir Jaiswal  said that  the MoU was signed by Indian Ambassador to the US  Vinay Mohan Kwatra  and Deputy Secretary of the US Department of Homeland Security  Christy Canegallo .

4 Indian Naval Ship Mumbai to participate in Multinational Exercise La Perouse

Indigenously built and guided missile destroyer  INS Mumbai   is participating in the fourth edition of  the multinational exercise  La Perouse . This edition will witness the participation of personnel/surface and sub-surface assets from various maritime partners including Royal Australian Navy, French Navy, Royal Navy, United States of America Navy, Indonesian Navy, Royal Malaysian Navy, Singapore Navy and Royal Canadian Navy. The  aim of the exercise is to develop shared maritime situational awareness through the conduct of progressive training and information sharing while enhancing cooperation in the field of maritime surveillance, maritime interception operations and air operations. The naval exercise La Perouse  is underway in the Straits between the Seas of Malacca, Sunda and Lombok in  the Indian Ocean and the Pacific Ocean  .

5 Industry Minister Piyush Goyal reached Belgium

Commerce and Industry Minister Piyush Goyal  will visit  Brussels, Belgium  from January 18 to 20  to enhance trade and investment relations between  India and the European Union (EU) . The talks are expected to cover the India-EU  Free Trade Agreement (FTA)the framework of the Trade and Technology Council  and  issues related to bilateral trade  . During the visit, Goyal will also meet World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala, Belgian Foreign Trade Minister Bernard Quentin and representatives of leading Belgian industrial companies and the Indian community. Bilateral trade between India and the EU is estimated to exceed $180 billion in the financial year 2023-24.

6 Budget session will run from 31 January to 4 April

This year  the budget session of Parliament  will run from January 31 to April 4, 2025. According to tradition, the session will begin on January 31 with President  Draupadi Murmu  addressing a joint sitting of the Lok Sabha and Rajya Sabha. After this  the Economic Survey  will be presented. This time the budget session will be held in two phases. The first phase will be from January 31 to February 13, while the second phase will start from March 10 and end on April 4. There will be a total of 27 meetings during the entire budget session. In the first phase, Prime Minister Narendra Modi will respond to the discussion on the motion of thanks on the President’s address and Finance Minister Sitharaman will respond to the discussion on the budget. At the same time, in the second phase, the grant demands of various ministries will be discussed and the budget process will be completed.

7 Google and Boston Consulting Group say Indian mobility market will double and cross USD 600 billion by 2030

The Indian mobility industry  is  expected to double and cross USD 600 billion by 2030. The report by  think tank  Google and Boston Consulting Group  says that emerging revenue sectors such as electric, shared and connected mobility could contribute USD 100 billion to the industry by 2030, while most of the revenue is expected to come from classic components such as vehicles, finance and insurance, including sales of new internal combustion engines (ICE).

8 Prime Minister Modi distributed 65 lakh property cards under the ownership scheme

Prime Minister  Narendra Modi  on Saturday  distributed 65 lakh ownership property cards  through video conferencing under  the Swamitva Yojana . More than 50,000 villages in 12 states and union territories  participated  in this program  . PM Modi said that in the last five years, property cards have been handed over to about 1.5 crore people. The Prime Minister said that this day is important for rural India and its economy. The  main objective of the Swamitva Yojana, which was  launched in April 2020  , is to give legal rights to their properties to the people living in villages.  This scheme facilitates property monetization and reduces property disputes along with facilitating people’s access to institutional credit through bank loans. It also helps in better valuation of property and property tax collection in rural areas. The full name of the Swamitva Yojana is  Survey of Villages and Mapping with Improvised Technology in Villages Area  . PM Modi launched this scheme as a pilot project in 9 states on 24 April 2020.

9 2nd ICC Under-19 Women’s Cricket Twenty 20 World Cup begins in Malaysia

The second ICC Under-19 Women’s Cricket Twenty20 World Cup  started  in Malaysia with the opening match between  Australia and Scotland  . Defending champions India will play their first match against West Indies tomorrow. India won the first Under-19 Women’s World Cup in 2023  by defeating England in the final played in South Africa   . India has been placed in Group A along with Malaysia, Sri Lanka and West Indies. 16 teams are participating in the competition including host Malaysia. These teams have been placed in four groups. A total of 41 matches will be played in this sixteen-day competition. The final of the competition will be played on February 2 in Kuala Lumpur.

10 ‘Blue Velvet’ director David Lynch dies

 Famous  American filmmaker David Lynch  died on January 16. Lynch received Oscar nominations in the Best Director category for his films The  Elephant Man (1980), Blue Velvet (1986), and Mulholland Drive (2001).  Apart from this, he also directed  the television show ‘ Twin Peaks ‘ in 1990-91. Lynch  received an honorary lifetime achievement award at the Oscar Awards 2020 .