Global Semiconductor Supply Chain & Trade Controls
- US Export Restrictions: The U.S. Department of Commerce introduced updated controls focusing on Advanced Computing Chips (ACCs) and associated chip manufacturing equipment (CME).
- Objective: To restrict the People’s Republic of China’s (PRC) ability to acquire and manufacture high-end semiconductors necessary for advanced military technology, AI development, and supercomputing.
- "Small Yard, High Fence" Strategy: Controls are highly targeted, impacting specific high-performance chip designs rather than broad sectors of the Chinese economy.
- Geopolitical Impact: The measures mandate licenses for specific technology transfers, creating friction with key global chip manufacturers in allied nations (e.g., South Korea, Taiwan).
- Chinese Response (Rare Earths): China countered the restrictions by imposing limitations on the export of critical rare earth metals, specifically Gallium and Germanium, essential inputs for semiconductor production.
Indian Space Research (ISRO) Achievements
| Mission | Vehicle | Key Achievement | Date/Time |
|---|---|---|---|
| Chandrayaan-3 | Vikram Lander, Pragyan Rover | Successful soft landing on the Moon's South Polar region. | August 23, 2023 (18:04 IST) |
| Aditya-L1 | PSLV-C57 | Launch of India's first dedicated solar observation mission. | September 2, 2023 |
- Chandrayaan-3 Scientific Payloads:
- RAMBHA-LP: Measures plasma density and variations near the lunar surface.
- ChaSTE: Conducts thermal property measurements of the lunar topsoil.
- ILSA: Monitors lunar seismic activity.
- Aditya-L1 Destination: The spacecraft is positioned in a halo orbit around the Sun-Earth system's Lagrange Point 1 (L1), approximately 1.5 million km from Earth, allowing continuous observation of the Sun without occultation.
Reserve Bank of India (RBI) Monetary Policy and Payments
- Repo Rate: Maintained the benchmark repurchase rate at 6.5% for the fourth consecutive policy review.
- Stance: Remained focused on the withdrawal of accommodation to ensure inflation aligns with the target while supporting growth.
- Inflation Forecast: RBI projected Consumer Price Index (CPI) inflation for the current fiscal year (FY24) at 5.4%.
- UPI Transaction Limit Expansion:
- The maximum limit for UPI transactions in specific categories was raised from ₹1 lakh to ₹5 lakh.
- Applicable Categories: Payments made to hospitals, educational institutions, and related services.
- Offline UPI: Introduced guidelines for scaling up the UPI LITE functionality to enable small-value offline digital payments, promoting access in areas with poor internet connectivity.