Semiconductor Manufacturing, Breast Cancer Drug,High Silver Prices, Flipkart, Tesla, Etc.

 India's Semiconductor Sovereignty: Govt Mulls Mandate for Locally Made Chips:

• Policy Mandate Consideration: Indian government explores policy mandate to boost domestic chip production, aiming to meet rising demand without restricting chip imports.

• Objective: Focus on meeting escalating demand for semiconductor chips through local production, promoting self-sufficiency, innovation, and job creation domestically. 

• Comprehensive Policy Framework: Discussions underway to formulate incentives for consuming locally manufactured chips across electronics, telecommunications, and automotive sectors.

• No Restrictions on Imports: Proposed policy does not restrict chip imports but aims to create a conducive environment for domestic semiconductor industry growth through policy support and incentives.

• Strategic Imperative: Prioritising domestically made chips aligns with the broader agenda of promoting economic resilience and reducing dependence on foreign suppliers amidst global supply chain disruptions.

 Gland Pharma's Breakthrough: USFDA Greenlights Generic Breast Cancer Drug

• US FDA Approval: Gland Pharma obtains USFDA approval for marketing generic breast cancer medication, Eribulin Mesylate Injection, marking a significant milestone for the company.

• Market Entry: Expected to be the first generic approval in the market, with the drug's sales estimated at USD 92 million in the US. 

• Launch Plans: Gland Pharma anticipates launching the product in the near term through its marketing partner, tapping into the lucrative breast cancer treatment market.

• Collaborative Efforts: Co-developed with Orbicular Pharmaceutical Technologies Pvt Ltd, the generic medication represents a culmination of collaborative efforts in the pharmaceutical industry.

• Market Response: Positive market response reflected in Gland Pharma's shares, which surged by 5.59% to Rs 1,853.25 apiece on the BSE following the announcement of USFDA approval.

Briefs, You Can’t Miss:

1. RBI Governor Advocates Increased Bank Participation in Rupee Derivatives Market.

2. Sources: Disinvestment of NTPC, Shipping Corporation Tops Government's First 100-Day Agenda.

3. Record High: Silver Prices in India Near Rs 82,000/kg.

4. Defence Exports Exceed Rs 20,000 Crore Due to Strong Willpower and Self-Reliance: Rajnath Singh.

5. General Insurance Industry Records 13% Growth in FY24, Slowing from Previous Year Due to Decline in Agri Insurance.

6. Adani Gas Arm Partners with MG Motor India for EV Charging Infrastructure.

7. Reliance Jio's JioKrishi and JiGau Samriddhi IoT Solutions Transform Indian Agriculture.

8. Indian Railways Progresses Towards 100% Electrification, Aiming to Become World's Largest Green Network.

9. Now Available: Book Bus Services via Flipkart App.

10. Report: Tata Group Seeking Top Talent from Taiwan for Semiconductor Manufacturing.

11. Data Breach Alert: Boat's Dark Web Leak Exposes Personal Data of 7.5 Million Users.

 World Briefs

• Taiwanese Company Pegatron Considering Transfer of its India iPhone Manufacturing Facility to Tata Group: Report.

• Elon Musk Drops Significant Hint: Tesla Vehicles Set to Enter Indian Market.

• US Treasury Secretary Yellen Announces Talks with China on Economic Growth, Including Discussion on Manufacturing Overcapacity Issue.

AI Briefs

• Microsoft Unveils New Artificial Intelligence (AI) Hub in London, Centred on Product Development and Research.

• Google Introduces Gemini in Android Studio, Offering Coding Assistance.

• Spotify Debuts Personalized AI Playlists, Enabling Users to Create Custom Lists with Prompts.