Current affairs 07 August 2024

Tata Group Launches ₹27,000 Cr Semiconductor Facility in Assam.

• Tata Group unveils a ₹27,000 crore semiconductor assembly and test facility in Assam, set to produce 15 billion chips annually and create 27,000 jobs.
• The facility, part of India’s semiconductor mission, will boost Assam's role in the global electronics ecosystem.
• Tata Electronics' new project will advance chip manufacturing and testing, supporting various global industries.

India to Host BIMSTEC Business Summit in New Delhi.

• India is hosting the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Business Summit in New Delhi, inaugurated by External Affairs Minister Dr. S. Jaishankar.
• The summit focuses on trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development to enhance regional collaboration and investment.

BHEL to demo India's 1st Methanol-Fired Gas Turbine at NTPC Kayamkulam.

• Bharat Heavy Electricals Limited will demonstrate India's first methanol-fired gas turbine at NTPC's 350 MW Kayamkulam Combined Cycle Power Plant in Kerala.
• This project aims to revive unutilized gas turbine sets in India, affected by the unavailability of natural gas and naphtha.
• The demonstration, conducted in 2 phases, includes technology support & commissioning by BHEL's Hyderabad units.

106 Waterways Declared National in Last 10 Years.

• The government has declared 106 additional waterways as National Waterways over the past decade, increasing cargo shipping capacity sixfold.
• Cargo transported via waterways rose from 18 million metric tonnes in 2013-14 to 133 million metric tonnes in 2023-24.
• Waterways are noted for reducing logistics costs and providing a feasible option for cargo shipping.

India Prepares for World Bank’s B-Ready Index.

• The World Bank's B-Ready Index, replacing the Doing Business Index, evaluates the global business environment across ten key factors: business entry, labor, financial services, international trade, and taxation.
• It focuses on how well countries support business operations, resilience to economic shocks, and adaptability.
• The B-Ready Index is to be released in April 2026.