CURRENT AFFAIRS

Detailed explanation-1: -Shri Ajit Manocha: Currently the president and CEO of SEMI (an industry association of companies involved in electronics design and manufacturing) Shri Manocha has over four decades of sterling career in the semiconductor industry .

Detailed explanation-2: -Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission on Wednesday.

Detailed explanation-3: -In December 2021, the IT ministry had unveiled the semiconductor fabrication incentive plan as a part of which the central government would make large, upfront investments – 50% fiscal support as per recent modifications – to back the semiconductor wafer fab proposals by various corporate entities.

Detailed explanation-4: -In 2021, India announced its roughly $10 billion dollar Production-Linked Incentive (PLI) scheme to encourage semiconductor and display manufacturing in the country. Also, a Design-Linked Initiative (DLI) scheme to drive global and domestic investment related to design software, IP rights etc.

Detailed explanation-5: -India Semiconductor Mission (ISM) is a specialized and independent Business Division within the Digital India Corporation that aims to build a vibrant semiconductor and display ecosystem to enable India’s emergence as a global hub for electronics manufacturing and design.