Morning Brief: New $15 Billion Chip Manufacturing Scheme, PM Modi To Lay Foundation For Rs 76,000 Crore Vadhvan Port, Third Nuclear Submarine In Six Months

Dear reader, dive into the latest headlines and must-know updates to kick off your day.

New $15 Billion Scheme For Semiconductor Manufacturing

The Indian government, having nearly exhausted the $10 billion subsidy for semiconductor manufacturing, is planning a second phase with a $15 billion outlay. This expansion aims to provide capital support for raw materials and gases while reducing subsidies for assembly and testing plants. The move follows the approval of four chip proposals, including an $11 billion fabrication plant by Tata Electronics and Taiwan's Powerchip. With ambitions to compete globally, India wants to position itself as a significant player in the semiconductor industry.

PM Modi To Lay Foundation For Rs 76,000 Crore Vadhvan Port

Prime Minister Narendra Modi will visit Maharashtra today (30 August) to lay the foundation stone for the Vadhvan Port project, valued at approximately Rs 76,000 crore. The Union cabinet recently approved this major port near Dahanu, which is expected to become one of the world’s top ten container ports. The new port will help alleviate traffic congestion in Mumbai and Thane by redirecting goods traffic away from the existing JNPA port. Developed by Vadhvan Port Project Ltd, with JNPA holding a 74 per cent stake and the Maharashtra Maritime Board 26 per cent, the project will feature nine container terminals, various berths, and extensive infrastructure. Currently, 65 per cent of India’s container traffic passes through Mundra and JNPA, both operating at full capacity.

Third Nuclear Submarine To Enter Service In Six Months

India plans to commission its third nuclear-powered ballistic missile submarine (SSBN) within six months to strengthen its nuclear triad. The new SSBN, INS Aridhaman, is currently undergoing trials and will join the fleet alongside the recently inducted INS Arighaat. INS Aridhaman will be slightly larger and capable of carrying more long-range nuclear missiles compared to its predecessors. India's second nuclear submarine, INS Arighaat, was commissioned on August 29 in Visakhapatnam. It has the capability to carry either twelve K-15 or four K-4 ballistic missiles, all of which can carry nuclear warheads.

India, China Agree To "Narrow Down Differences"

India and China held a "frank, constructive, and forward-looking" dialogue in Beijing on August 29, aiming to resolve the ongoing border standoff that began in May 2020. The two sides agreed to "narrow down the differences" and increase contact through diplomatic and military channels. This development comes as Prime Minister Narendra Modi prepares for a potential meeting with Chinese President Xi Jinping at the BRICS Summit in October. The meeting marked the first time the phrase "narrow down the differences" was used in the talks, signalling diplomatic progress.

Other Developments

Sangh Meet To Focus On Caste Outreach, BJP Coordination

At the RSS and BJP meeting starting Saturday in Kerala, the Sangh Parivar will focus on the "samajik samrasta" (social harmony) campaign and improving coordination between the RSS and BJP. The annual Akhil Bharatiya Samanvay Baithak in Palakkad will see top leaders from both organizations, including RSS chief Mohan Bhagwat and BJP chief J P Nadda. The campaign aims to bridge the caste divide and foster Hindu unity. Recent shifts in Dalit support away from the BJP have heightened the urgency of these efforts.

Mahindra, Volkswagen To Launch Joint Venture For Electric SUVs

Mahindra & Mahindra and Skoda Auto Volkswagen India are on the brink of establishing a 50:50 joint venture for the electric vehicle market. The collaboration will involve sharing costs, technology, and vehicle platforms, with a primary focus on developing battery-powered SUVs for both Indian and international markets. This joint venture represents a significant leap for Volkswagen in India's competitive auto sector, where it has struggled to gain traction. For Mahindra, it marks a bold move into the electric vehicle arena, signaling a strong commitment to expanding its presence in this rapidly growing market.

Denmark Denies Extradition Of 1995 Arms Drop Mastermind

A Danish court rejected India's request to extradite Niels Holck, a Danish national wanted in connection with a 1995 weapons smuggling case, due to concerns over human rights violations. The court ruled that sending Holck to India could breach the European Convention on Human Rights. Holck had previously admitted to smuggling weapons into West Bengal under the alias Kim Davy. The arms, intended for the Ananda Marga rebel movement, ended up being discovered by Indian authorities. Holck escaped to Nepal and returned to Denmark in 1996, while the rest of the crew was imprisoned in India.

LGBTQ Individuals Can Open Joint Bank Accounts

The Finance Ministry has announced that LGBTQ individuals can open joint bank accounts and nominate partners in such accounts without any restrictions. The advisory, issued on August 28, clarifies that queer individuals can freely include partners as beneficiaries. This move follows a Supreme Court order from October 17, 2023, in the case of Supriyo Supriya Chakraborty vs Union of India. The advisory aims to ensure that the LGBTQ community is not restricted in financial matters.

From The States

CPI(M) MLA Among More Malayalam Actors Booked

CPI(M) MLA M Mukesh is among several Malayalam actors booked by Kerala Police following sexual misconduct allegations detailed in the Justice Hema Committee report. On Thursday, actors Mukesh, Jayasurya, Edavela Babu, and Maniyanpillai Raju, along with film production controller Noble and Congress-affiliated lawyer V S Chandrasekharan, were implicated. Mukesh has denied the allegations, labeling them as "blackmail tactics." Additionally, director Ranjith, who was previously booked for similar accusations, faces a new allegation from a man in Kozhikode.

New CM Buzz In Karnataka

A week ago, amid Karnataka's political crisis over a land scam case against Chief Minister Siddaramaiah, Congress national general secretary Randeep Surjewala called state Home Minister Dr. G Parameshwara to a press briefing in Delhi. This move sparked speculation about a possible back-up plan within the party. Parameshwara, who was not originally scheduled to attend the meeting, stayed on for discussions even after Chief Minister Siddaramaiah and Deputy CM D K Shivakumar had left. While Surjewala cited the meeting as a discussion on Karnataka's political situation, Shivakumar downplayed Parameshwara's presence as related to departmental matters.

Telangana Could Ban Kangana Ranaut-Starrer 'Emergency'

Telangana Chief Minister A Revanth Reddy has assured Sikh community leaders that the state government will consider banning BJP MP Kangana Ranaut's film "Emergency" pending legal consultation. The film's portrayal of Sikhs has caused controversy, with the Telangana Sikh Society alleging it depicts the community as terrorists and anti-nationals. Many believe the true motivation behind the Telangana government's consideration is the concern that the movie might embarrass the Congress leadership.

Stay tuned—more updates and insights are on the way!