Context: Recently, India and the US inked an initial pact on increasing private sector cooperation in the area of semiconductors under which the two countries would facilitate business opportunities and develop an ecosystem with a view to reducing their dependence on China and Taiwan.

• According to a joint statement, both sides have agreed to set up a semiconductor sub-committee, led by the Department of Commerce for the US side and the Union Ministry of Electronics and Information Technology (MeitY) and the Union Ministry of Commerce and Industry.

About the semiconductor sub-committee 

The semiconductor sub-committee would be led by the 

• Department of Commerce for the US side  Ministry of Electronics and Information Technology (MeitY) and Ministry of Commerce and Industry for the Indian side

• The committee will convene its first engagement in mid-year to review recommendations from the joint industry-led task force launched in connection with the iCET (Initiative on Critical and Emerging Technologies).

Initiative on Critical and Emerging Technologies (iCET)

• Launched in: 2022

• The Initiative for Critical and Emerging Technologies (iCET) is an inter-governmental initiative between the United States and India.

• Objective: to elevate and expand strategic technology partnership and defence industrial cooperation between the country’s governments, businesses and academic institutions.

Need of the move

Objective: Its objective is to reduce its dependency on China and Taiwan

• China-Taiwan’s dominance & tussle

• Taiwan is home to some of the world’s leading semiconductor manufacturers.

• China, as the world’s largest market for semiconductor products.

• According to reports, China has sanctioned USD 140 billion to boost domestic chip manufacturing to overcome the US export restrictions.

• However, the China-Taiwan semiconductor war has started which has significant implications for the global tech industry.

• China claims Taiwan to be part of its territory and has been looking for "reunification". The relations between the two countries appear to have deteriorated sharply.

Important missions in India & US to promote the semiconductor industry

• US's CHIPS and Science Act: The CHIPS and Science Act was signed by President Joe Biden in 2022 to boost funding for the American semiconductor industry.

• India's Semiconductor Mission:  The programme aims to provide financial support to companies investing in semiconductors, display manufacturing and design ecosystems.

• The Indian government has also approved a Rs 76,000 crore scheme to boost semiconductor and display manufacturing in the country in a bid to position India as a global hub for hi-tech production and attract large chip makers.

• Incentives have been lined up for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensor fabs, semiconductor packaging and semiconductor design.

Budget 2023

• The semiconductor development programme of the government has been given a budget estimate of Rs 3,000 crore from the Rs 200 crore in the revised estimate last year. PLI scheme for large-scale electronic manufacturing also received a whopping over Rs 4,000 crore estimate.

How significant are semiconductors?

• From automobiles to electronic goods and to smartphones, all need semiconductors. These are the chips. And disruption in semiconductor supply has led to billions of dollars of losses for major companies across the globe.

• Semiconductor chips are made from silicon, one of the most available substances on Earth, and are fitted into microcircuits that power electronic goods and components. The raw materials come mostly from Japan and Mexico.

Significance of the agreement

• Promoting business: It would facilitate business opportunities and develop an ecosystem. 

• An opportunity to become a leader: India will achieve its aspirations to play a larger role in the electronics supply chain and realize its potential to become a leader in the automobile and electronics industry. 

• Boost for industries: Industries like automobiles, communications etc., will get much-needed push and the government’s efforts for digitization and digital growth will be supported. 

• Self-reliance: The MoU will pave the way for India to Atmanirbhar in this strategic sector.

Context: The Union government has formally outlined the Digital India Act, 2023 which is a broad overhaul of the decades-old Information Technology Act, 2000.

Central idea: Reconsideration of Safe Harbour

• The government is reconsidering a key aspect of cyberspace — ‘safe harbour’.

• Safe harbour is the principle that so-called ‘intermediaries’ on the internet are not responsible for what third parties post on their website.

• This is the principle that allows social media platforms to avoid liability for posts made by users.

• Safe harbour has been reined in in recent years by regulations like the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, which require platforms to take down posts when ordered to do so by the government, or when required by law.

What is the Digital India Act, 2023?

• The act is a new legislation that aims to overhaul the decades-old Information Technology Act, 2000.

• The Act covers a range of topics such as Artificial Intelligence (AI), cybercrime, data protection, deepfakes, competition issues among internet platforms, and online safety.

• The Act also aims to address “new complex forms of user harms” that have emerged in the years since the IT Act’s enactment, such as catfishing, doxxing, trolling, and phishing.

Why was this act enacted?

• Data privacy: The Digital India Act will be implemented alongside the Digital Personal Data Protection Bill, 2022, which focuses solely on processing personal data in India.

• Lawful use of data: It seeks to address the processing of digital personal data in a manner that recognizes both the right of the individuals to protect their personal data and the need to process personal data for lawful purposes.

• Comprehensive regulation: This Act and the Digital Personal Data Protection Bill will work in tandem with each other.

Key features of the Digital India Act

• Creating new regulations around newer technology, including 5G, IoT devices, cloud computing, metaverse, blockchain, and cryptocurrency.

• Reclassifying online intermediaries to separate categories instead of one general intermediary label, each one with its own set of regulations.

• Removing “safe harbour” immunity for online intermediaries for purposeful misinformation or other content violations from third parties.

• Creating digital standards and laws regarding artificial intelligence (AI) and machine learning (ML) technology.

• Criminalizing cyberbullying, identity theft, and unauthorized sharing of personal information without consent.

Significance

• The Digital India Act provides a legal framework for promoting the growth of the digital economy in India.

• It aims to create a conducive environment for the development and deployment of digital technologies across different sectors.

• The Act also addresses various challenges associated with cybersecurity and data privacy, which are critical issues in the digital age.

Conclusion

• The Digital India Act is expected to promote digital literacy and increase access to digital services for all citizens.

• It will help in creating a digital infrastructure that is secure, reliable, and accessible to everyone.

• The Act will also encourage the adoption of digital technologies in various sectors such as healthcare, education, and agriculture, leading to increased efficiency and productivity.

U.K. Prime Minister Rishi Sunak is heading to San Diego on March 12, 2023 to finalise the AUKUS deal — a trilateral security partnership between Australia, the U.K. and the U.S.

• It will provide nuclear-powered submarines to Australia.
• The partnership was announced in September 2021 as part of the U.S. and U.K.’s strategies to more deeply with the Indo-Pacific, largely to counter Beijing’s assertiveness in the region.
• I am travelling to the United States today to launch the next stage of the AUKUS nuclear submarine programme, a project which is binding ties to our closest allies and delivering security, new technology and economic advantage at home,” Mr Sunak said in a statement , prior to his departure.

Iran has finalised a deal to buy Sukhoi Su-35 fighter jets from Russia, with the deepening of defence cooperation between the two countries. However, there was no immediate confirmation of the deal from Russia.

• Russia announced it was ready to sell them after the expiry in October 2020 of restrictions on Iran purchasing conventional weapons under UN Resolution 2231.
• Kyiv has accused Tehran of supplying Moscow with Shahed-136 kamikaze drones used in attacks on civilian targets since Russia’s invasion of Ukraine in February last year while Iran denies the allegation.

The 95th Oscar 2023 Academy Awards saw India win two trophies. The Best Original Song was won by RRR's Naatu Naatu. As MM Keeravaani and Chandrabose picked the trophy, the music composer sang a song dedicating his award to India.

• The Elephant Whisperers won the award for Best Documentary Short Subject at the 95th Academy Awards.
• The performance of Naatu Naatu led by Rahul Sipligunj and Kaala Bhairava, was introduced on the stage by Deepika Padukone.
• Brendan Fraser won the Best Actor Oscar for his work in The Whale.

North Korea said Monday it has conducted submarine-launched cruise missile tests, days after its leader Kim Jong Un ordered his troops to be ready to repel its rivals’ “frantic war preparation moves.”

• The test on Sunday came a day before the U.S. and South Korean militaries begin large-scale joint military drills that North Korea views as a rehearsal for invasion.
• KCNA also implied that the North aims to arm the cruise missiles tested with nuclear warheads.
• North Korea sees regular South Korea-U.S. military exercises as a major security threat, though the allies say their drills are defensive.

A high-level delegation from the Saudi Space Commission, led by CEO Dr Mohammed Saud Al-Tamimi, recently visited India from March 6 to 10 to hold discussions on space cooperation.

• The delegation engaged in wide-ranging talks with various entities in India, including the Indian Space Research Organisation (ISRO) and Indian companies involved in the space sector such as New Space India Limited and Centum Electronics.
• During the visit, Dr Al-Tamimi met with S. Somanath, Chairman of ISRO, and visited the Vikram Sarabhai Space Centre, Thiruvananthapuram and the U R Rao Satellite Centre, Bengaluru.
• The delegation also visited the Indian Institute of Space Sciences and Technology, and a technical team separately visited the National Remote Sensing Centre.

The Biden administration has announced that customers of Silicon Valley Bank will have full access to their deposits, an extraordinary move by federal officials to backstop billions of dollars in uninsured money amid fears that the bank's collapse could lead to greater panic.

• Federal regulators said Sunday that it was taking the emergency measures to prevent contagion at other small and regional banks in the wake of Silicon Valley Bank's sudden implosion.
• The move ensured the security of an estimated $8.1 billion of deposits. British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank.
• Its collapse was the second-largest bank failure in history.

A striking symbol of Kanpur's rich history and cultural heritage, Ganga Mela was celebrated in Kanpur on March 13.

• For the first time the mela was observed in 1942 and since then it has become a tradition to celebrate it.
• It is also called ‘second Holi’ which is celebrated on the 5th or the 7th day of the Holi festival in auspicious ‘Anuradha Nakshtra’ which is awaited by everyone irrespective of caste and creed.
• Historians say that in 1942 when people were fighting to get freedom from the British rule, they not only played Holi in a grand manner on the day of Holi ignoring the ban imposed by the Britishers, but also hoisted the tricolour in Rajjan Babu Park situated in Hatia Bazar.

Indian Navy's guided missile frigate INS Sahyadri joined two frontline warships of France in carrying out a two-day maritime partnership exercise in the Arabian Sea.

• The exercise on March 11 and 12 witnessed a wide spectrum of drills at sea including cross-deck landings, boarding exercises and seamanship evolutions, Indian Navy officials said on March 12.
• The French Navy deployed Mistral-class amphibious assault ship FS Dixmude and La Fayette class frigate FS La Fayette in the exercise.

In Madhya Pradesh, Governor Mangubhai Patel inaugurated the third Divya Kala Mela at Bhopal in the presence of Union Minister for Social Justice and Empowerment Dr Virendra Kumar and Minister of State Kumari Pratima Bhowmik.

• Governor Patel, while inaugurating the 10-day fair, stated that this is a great chance to enable Divyangjan to become entrepreneurs and artisans.
• On this occasion, Union Minister for Social Justice and Empowerment Virendra Kumar said the government is aiming to achieve holistic and all-round development so that the disabled can participate equally in this process.

Prime Minister Narendra Modi dedicated to the nation the "longest railway platform in the world" at Shree Siddharoodha Swamiji Hubballi Station near here.

• The record has been recognised by the Guinness Book of World Records recently, officials said, adding that the 1,507 m long platform has been built at a cost of about Rs 20 crore.
• Modi at an event here, also dedicated the electrification of Hosapete - Hubballi - Tinaighat section and the upgradation of Hosapete station, for boosting connectivity in the region.

Karnataka, the Chief Election Commissioner and other members of ECI inaugurated Vote Fest 2023 to create awareness on the election process in Bengaluru yesterday, March 10. 

• The Full Commission from the Election Commission of India is on a three-day visit to the city.
• The Chief Election Commissioner Rajiv Kumar and Election Commissioners Anup Chandra Pandey and Arun Goel inaugurated the Fest to create awareness of the election process and educate the voters.
• They also inaugurated Electhon 2023, a 30-hour hackathon for securing the electoral future. This is an exercise to seek people's suggestions on improving voter turnout, ensuring the registration of new voters, and how to ensure the involvement of urban youth in the democratic process. 

Aditya Birla Group on Friday announced it would invest Rs. 1,500 crore to set up BITS Law School in Mumbai.

• The institute will initially operate from an interim location in Powai but will later move to a 63-acre campus in the Mumbai Metropolitan Region.
• Its first academic session will commence in August, for which admissions are currently open.

The Stock Market Education Conclave, is set to take place at the esteemed Thyagaraj Stadium in New Delhi. This event is geared towards providing financial education and promoting stock market awareness to a mass audience and is a collaboration between influencers and leading educators.

• The Stock Market Education Conclave boasts over 6000 live participants and 40+ influencers and educators, making it a must-attend event for anyone seeking to financial growth and prosperity.
• The event promises to provide a proactive, radical, and breakthrough perspective that, if applied, will take your profitability to the next level, whether you’re a fresher in the stock market or an investor seeking growth and distribution.