Semiconductor manufacturing to start very soon in India: IT secretary

Semiconductor Manufacturing in India

*Semiconductor manufacturing to start very soon in India: IT secretary*
Electronics and IT secretary Alkesh Kumar Sharma on Tuesday said that the production of semiconductors in the country will start very soon. He was responding to a query around plan of action of the Ministry of Electronics and IT after state-owned company Energy Efficiency Services Limited (EESL) raised the issue of shortage of electronic chip and printed circuit board (PCB or motherboard) hindering domestic production of electric meters. “India will be one of those top 6-7 partners which will have semiconductor manufacturing. It will happen very soon,” Sharma said. Speaking at a conference on technology transfer by C-DAC, Thiruvananthapuram for local manufacturing of smart meters and electric chargers, Sharma said Meity has taken lead in technology development, be it electronic or automotive sector, artificial intelligence.

*’Cheaper, faster, safer’: India, Singapore launch real-time payments link*
In the first such collaboration for India, the country’s flagship payments platform, the Unified Payments Interface (UPI), and Singapore’s PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore’s PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore Managing Director Ravi Menon, using mobile phones. The linkage will enable users to transfer funds held in bank accounts or e-wallets to and from India using only the UPI ID, mobile number, or Virtual Payment Address (VPA), the RBI said.

*Investments worth Rs 1.5 trn likely on data centres in next six years: Icra*
Credit rating agency Icra on Tuesday said Indian and foreign corporations may invest over Rs 1.5 trillion in the next six years on expanding their data centre capacities in India, marking a six-fold growth. A data centre is a large group of networked computer servers used by organisations for the remote storage, processing, or distribution of huge amounts of data. India’s total data centre capacity is currently pegged at 870 Mw, powered by 138 units. Icra said the country could add 4,900-5,000 Mw of in the next six years. Mumbai, Hyderabad and NCR will account for 70-75 per cent of the installed capacity in coming years. Providing infrastructure status to data centres, special incentives from Central and state governments like land at a subsidised cost, power subsidies, exemptions on stamp duty, and discounts on the usage of renewable energy will cause a data centre boom in the country. Availability of IT locally made components will further boost investments in the country, the rating agency said.

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Sector in focus – Banks, IT, Real-estate & Automobiles.

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