SUNDAY SUMMARY

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1. Big leap in chip mission

On Thursday, the Union cabinet approved three chip projects worth Rs 1.26 lakh crore. These include:

• India’s first semiconductor fabrication plant to be set up in Dholera, Gujarat, by the Tata Group. The project, set up in partnership with the Taiwan-based Powerchip Semiconductor Manufacturing Corporation (PSMC).

• A separate Tata Group proposal for setting up an assembly plant in Assam at a cost of Rs 27,000 crore has also been cleared,

• Another one by CGPower in Sanand Gujarat which involves an investment of Rs 7,600 crore.

These projects follow the government’s approval in June last year of Micron Technology's assembly and test facility in Gujarat. In December 2021, looking to develop a semiconductor ecosystem in the country, the government put in place a Rs 76,000 crore chip incentive scheme, announcing incentives for “every part of the supply chain including electronic components, sub-assemblies, and finished goods.” TheTata-PSMC plant is expected to serve industries such as high-performance computing, electric vehicles, defense and others. Currently, South Korea, Taiwan and China account for around 70% of the global manufacturing capacity, with the balance in the US and Japan.

2. New grain storage plan to help farmers in more ways than one

Last week PM Modi launched the world's largest grain storage plan in the cooperative sector. The government is looking to “set up a storage infrastructure of 700 lakh metric tons”. Expected to fructify over the coming five years, this will likely cost Rs 1.25 lakh crore. The government's plan is ambitious as it aims to almost double the existing storage capacity in the country. This sharp increase in storage facilities would help at multiple levels- it will cut down losses due to lack of adequate infrastructure and enable farmers to sell their output at an opportune time in terms of prices.

At the same time, the framework of this new storage plan also points towards the increasing emphasis the government is placing on cooperatives. It had previously outlined a plan to establish two lakh primary agricultural credit societies (PACS), dairy and fisheries cooperatives in the country. This increasing reliance on cooperatives stems from the prime minister's belief in their critical role in solving farmers’ problems “through group/collective strength.”- Amul and Lijjat Papad being examples. However, this emphasis may also indicate receding expectations of large-scale investments from the private sector in agriculture infrastructure and marketing.

2. Made in India human space mission

Preparing to join their names in history books with Rakesh Sharma, the air force squadron leader who became the first Indian in space in 1984, are Group Captain Prasanth Balakrishnan Nair, Group Captain Ajit Krishnan, Group Captain Angad Pratap, and Wing Commander Shubhanshu Shukla— the astronaut-designates for India’s first human space flight mission, Gaganyaan. Having trained in anonymity for the last four years, they received their “astronaut wings” on Tuesday at the Vikram Sarabhai Space Centre in Thumba, Kerala, from PM Modi, who described them as“the four forces” representing the dreams of 1.4 billion Indians.

Announced in 2018, Gaganyaan is one of India’s most ambitious space programs. A successful execution would put India in the company of the US, Russia and China. The excitement around Gaganyaan is not only a sign of how much ISRO’s public profile has grown over the last few years, but also the increasing reach and scale of its ambitions. The success of recent missions like Mangalyaan and Chandrayaan, while exhilarating in themselves, can become the start of something larger. Opening up the sector to private parties and allowing 100% FDI are steps in this direction.

3. Small island in the Sundarban delta at the center of BJP-TMC politics

Trinamool Congress (TMC) strongman Shahjahan Sheikh, who had been on the run for 55 days, was arrested by West Bengal Police on Thursday in connection with an attack in January on Enforcement Directorate (ED) officials. Hours after his arrest, the TMCsuspended him for six years

Since the past 1.5 months, Sandeshkhali has been at the center of BJP-TMC politics in the state. What has been happening?

• Background- Sandeshkhali island is mainly inhabited by SC and ST farmers and fisherfolk. Sheikh Shahjahan as the district’s in-charge of fisheries development, along with his henchmen, began to grab the farmers' lands to convert them into lucrative fish farms. Those who resisted were allegedly targeted, while those who gave in did not receive fair compensation. The long-simmering anger against Shahjahan and his goons bubbled over after the failure of the police to apprehend him.

• On January 5, ED went to Sandeshkhali to raid the home of Sheikh Shahjahan in connection with the ongoing investigation into alleged irregularities in the state’s public distribution system. Shahjahan’s supporters attacked the ED team and injured three officials. They also helped Shahjahan escape.

• On February 8, some local women blocked the main road in Sandeshkhali and demanded the immediate arrest of Shahjahan and his two aides, whom they accused of sexual abuse and harassment.

  

  Women held posters staging a protest demanding the arrest of local TMC leaders over Sandeshkhali incident allegations, in North 24 Parganas district

5. Other Matters in News

• Google and Reddit have signed a USD 60 million deal that will give the Internet search giant real-time access to the data of one of the world’s most visited social media and content-sharing platforms. Google will use this data for its AI offerings. This comes at a time when widespread criticism of responses generated by Gemini has increased the urgency for Google to get its act together as the likes of OpenAI come to have an increasingly greater say in the future of how users access online services. Meanwhile, Google’s AI venture DeepMind on Monday introduced Genie, a new generative AI (GenAI) model that can create interactive video games from just text or image prompts. Genie can generate these games without prior training on game mechanics, which are essentially rules that up a game

• India’s first indigenously developed hydrogen fuel cell ferry- The vessel, manufactured by Cochin Shipyard Limited (CSL), will be deployed for service at Varanasi in Uttar Pradesh. Built at a cost of Rs 18 crore, the ferry operates on a Hydrogen fuel cell and can carry 50 people in its air-conditioned passenger area. The ferry is a part of the Centre’s ‘Harit Nauka’(green boat) initiative in which all states have to make efforts to use green fuels for 50% of inland waterways-based passenger fleets in the next decade and 100% by 2045.

  

• On Wednesday, Reliance Industries, Viacom18, and Walt Disney Company announced the signing of binding definitive agreements to form a joint venture, combining the businesses of RIL-controlled Viacom18 and Star India, a subsidiary of Disney. The transaction values the JV at Rs 70,352 crore ($8.5 billion) on a post-money basis, excluding synergies. This joint venture will be one of the leading platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment (Colors, StarPlus, StarGOLD) and sports (Star Sports and Sports18), including access to highly anticipated events through JioCinema and Hotstar. The JV will have over 750 million viewers across India and will also cater to the Indian diaspora worldwide.

- References and Excerpts from Indian Express

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