Daily current affairs 14th September

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September 14, 2022

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# Vedanta – Foxconn

  • Mining conglomerate Vedanta and Taiwanese electronics manufacturing giant foxconn will make one of the largest ever investments of ₹ 1.54 lakh crore in setting up India’s first semiconductor plant in Gujarat.
  • The 60:40 joint venture of Vedanta-foxconn will set up semi conductor fab unit, a display fab unit and a semiconductor assembling and testing unit on a 1000 acre plot in the Ahmedabad district.
  • The plant will start production in two years.
  • The Indian semiconductor market was valued at $27.2 billion in 2021 and is expected to grow to $64 billion in 2026.

# Azerbaijan-Armenia

  • Atleast 49 Armenian soldiers and an undisclosed number of Azeris were killed on Tuesday in the deadliest fighting between Azerbaijan and Armenia since a 2020 war.
  • Armenia and Azerbaijan, neighbouring former Soviet States , blamed each other for the renewed fighting which began overnight at multiple places.

# Inflation

  • Retail inflation of 7% in August may spur the Reserve Bank of India to raise interest rates by another 50 basis points this month.
  • The August inflation print was higher than the 6.71% inflation in July.
  • The RBI’s comfort level of inflation is less than 6%.

# BCCI

  • The board of control for Cricket in India on Tuesday urged the Supreme Court to permit its office bearers to have two consecutive terms of three year each.
  • Solicitor general Tushar Mehta appeared for the BCCI.

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