Daily News - Friday, 16 August 2024
India will offer end-to-end chip solutions to the world: Modi (The Indian Express)
Prime Minister Narendra Modi announced that India will become a global hub for semiconductor manufacturing and cutting-edge technologies by leveraging its large skilled youth base, emphasizing the importance of producing "Made in India" chips and offering end-to-end solutions worldwide. The government’s efforts, including the Rs 76,000 crore chip incentive scheme and successful Production Linked Incentive (PLI) schemes, have attracted significant investments, with semiconductor projects underway in Gujarat and Assam. Modi also urged Indian youth to lead in designing products, services, and gaming, aiming to set international standards with innovations developed in India.
Centre’s guidelines for special assistance to states finalised, ₹10K cr for land reforms (The Indian Express)
The Centre has allocated Rs 10,000 crore to states for implementing land-related reforms in both rural and urban areas, and Rs 5,000 crore for creating a Farmers' Registry in the financial year 2024-25. Additionally, Rs 5,000 crore will be provided for the construction of working women's hostels, with the largest amounts going to Uttar Pradesh (Rs 382 crore), Madhya Pradesh (Rs 284 crore), and Assam (Rs 226 crore). Other significant allocations include Rs 15,000 crore for industrial growth, Rs 25,000 crore as incentives for capital expenditure targets, and Rs 1,000 crore for NCR development, split equally among Haryana, Uttar Pradesh, and Rajasthan.
Modi urges states to compete for investments, establish clear policies (The Indian Express)
Prime Minister Narendra Modi highlighted the increasing global interest in investing in India and urged state governments to develop clear, investment-friendly policies that ensure good governance, law, and order during his 78th Independence Day speech. He reiterated India's ambition to become a global manufacturing hub, supported by extensive resources and skilled labor, and emphasized the importance of state-level competition to attract foreign direct investment (FDI). The government’s 14 Production Linked-Incentive (PLI) schemes have already attracted major investments in sectors like electronics and semiconductors, with notable projects by companies like Apple, Samsung, and Tata underway in states such as Tamil Nadu, Uttar Pradesh, Karnataka, Gujarat, and Assam.
Govt to set up 20-25 hub airports in 20 years (Hindustan Times)
The Civil Aviation Ministry is planning to establish 20 to 25 hub airports over the next 20 years to meet India's growing air travel demand, with potential hub locations including tier-2 and tier-3 cities like Amritsar, Jaipur, and Varanasi. This plan aligns with the rapid increase in air travel, evidenced by a 15% growth in passenger numbers in FY24, with major airports like Delhi and Mumbai already handling millions of passengers annually. The expansion will require significant investment in infrastructure, workforce development, and public-private collaboration to ensure long-term success, as the country also anticipates the need for second or third airports in over 10 cities.
India’s drug exports gain share in US and Italian markets (mint)
India's focus on boosting domestic pharmaceutical manufacturing has led to a significant rise in exports to the US, where India is now the third-largest supplier of "medicine put up for retail sale," with exports increasing to $9 billion in 2023, up from $7.33 billion in 2022, raising India's market share from 10.08% to 13.1%. India has also seen growth in antibiotic exports to Italy, where its market share increased to 2.12% in 2023 from 0.96% in 2022, and in the German MRI apparatus market, where its share rose to 1.7% in 2023 from 0.45% in 2022. These successes reflect the government's prioritization of the pharmaceutical and medical devices sectors, both of which were among the first to benefit from the Production Linked Incentive (PLI) scheme.
