Current Affairs 14 March 2026

India Proposes ₹1 Trillion Fund to Strengthen Domestic Chip Manufacturing Industry.

India plans to launch a ₹1 trillion ($11 billion) semiconductor fund to strengthen domestic chip manufacturing.
The initiative aims to attract global chipmakers, boost supply chains, and reduce dependence on imports.
The fund will support chip design, manufacturing equipment, and semiconductor supply chain development.
It is part of India’s effort to become a global semiconductor hub.
The plan builds on the $10 billion semiconductor incentive program launched in 2021.

Donald Trump announced a $300 billion partnership with Reliance Industries to build America First Refining, the first major U.S. oil refinery in about 50 years.
The refinery will be built at the Port of Brownsville and is expected to be one of the cleanest refineries in the world.
The project is described as the largest investment in U.S. history and is expected to create thousands of jobs.
It is part of the America First energy agenda aimed at achieving energy dominance and stabilizing global energy markets.
The announcement comes amid oil supply disruptions through the Strait of Hormuz due to conflicts in West Asia.
The refinery is expected to strengthen U.S. national security by boosting domestic production and energy exports.

AVATAAR is India’s first drone capable of operating both in the air and underwater.
Developed by AquaAirX Autonomous Systems using advanced sonar technology.
Features a corrosion-resistant carbon-fiber structure designed for marine environments.
Uses an Ultra-Short Baseline navigation system for precise underwater positioning.
Equipped with multibeam imaging sonar for seabed mapping and surveillance.
Designed for reconnaissance, surveillance, and threat detection in ports, harbors, and coastal areas.

Bokaro Steel Plant has received an extension of certification from the Bureau of Indian Standards (BIS).
The approval covers four high-strength steel grades: ISC 440 LA, ISC 470 LA, ISC 510 LA, and ISC 550 LA.
Earlier, the plant’s BIS licence covered grades only up to ISC 410.
These steels fall under the IS 513 (Part 2) framework.
The HSLA cold-rolled steel is designed for higher strength and lighter weight, mainly for automotive, engineering equipment, and structural applications.

ASSOCHAM and ICCC signed an MoU to strengthen India–Canada trade and business ties.
The agreement was signed during the India–Canada Business Roundtable in New Delhi.
It sets up a framework to help businesses explore trade and investment opportunities between the two countries.
An information exchange system will share trade policies, regulations, and investment prospects.
Both organizations will support joint ventures, collaborative projects, and conduct trade missions, exhibitions, seminars, and workshops.