US-India Partnership 🤝

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Author

Arjun Prasaath A
September 10, 2024

Greeting human!

Heres whats going on in 🇮🇳

  • US-India Partnership

  • GST Council Decisions

  • Asia-Pacific Ministerial Conference on Civil Aviation

US-India Partnership to Advance Semiconductor Ecosystem

The US and India will collaborate through the International Technology Security and Innovation (ITSI) Fund to foster growth and diversification in the global semiconductor ecosystem. This partnership aims to create a more resilient and secure supply chain.

Why it's important: This collaboration strengthens the strategic partnership between the US and India, aligns their interests in semiconductor development, and contributes to a more stable global supply chain.

Cancer Drug GST Cut, GoMs on Insurance and Compensation Cess

The GST Council reduced GST on cancer drugs from 12% to 5% and certain snacks from 18% to 12%. A Group of Ministers (GoM) will be formed to consider reducing GST on life and health insurance. Another GoM will examine compensation cess and rate rationalization in real estate. Online gaming revenue surged by 412% to Rs 6,909 crore in 6 months.

Why it's important: The GST rate cuts provide relief to cancer patients and consumers, while the GoMs will address GST-related issues in key sectors.

India to Host Asia-Pacific Ministerial Conference on Civil Aviation for Regional Growth and Sustainability

India will host the Asia-Pacific Ministerial Conference on Civil Aviation from September 11-12, 2023, in New Delhi, focusing on regional aviation growth and sustainability. India aims to become a significant hub for MRO services, cargo operations, and overall aviation, supported by new airports and policies like UDAN.

Why it's important: The conference will foster collaboration and address key issues in regional aviation, shaping the future of air connectivity and economic development in the Asia-Pacific region.

Global Chronicles 🌐 

  • Typhoon Yagi's wrath in Vietnam leaves 59 dead, 247 missing, and devastates over 135,000 hectares of crops.

  • EAM Dr. S. Jaishankar attended the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue in Riyadh from September 8-9, 2024, discussing cooperation in various sectors, including health security, food security, and maritime security.

Market Movers 🤑 

  • Indian rupee depreciates by 1 paise against US dollar, while dollar index stands at 101.67.

  • Oil prices rebounded by 1.3% today, buoyed by hurricane fears in the U.S. Gulf Coast, with Brent crude trading at $72.01 and WTI at $68.67 per barrel.

Sports Spectacle 🏅 

  • The Paris Paralympics 2024 concluded with a captivating closing ceremony featuring 20 DJs, 4,400 athletes from 168 delegations, and a pledge from Los Angeles to host the 2028 Summer Games.

  • Indian boxer Deepali Thapa makes history as the first-ever Asian Schoolgirl Champion, leading India to a record seven female titles.

Meme of the day

Thank you for being awesome readers and staying informed with our news updates! We look forward to having you join us again on the next one for more exciting stories.

Stay curious and keep smiling!
Synapses 🔗