Adani Group pauses talks with Israel’s Tower Semiconductor on $10 billion chip project: Report
New Delhi: The Adani Group has reportedly paused its discussions with Israel’s Tower Semiconductor for a proposed $10 billion chip project, citing concerns over the project's strategic and commercial viability.
According to a Reuters report, the decision to pause talks was made after Adani Group’s internal assessment flagged uncertainty about how much demand, particularly in India, the business can generate.
"It was more of a strategic decision. Adani evaluated it and decided, let's wait," news agency Reuters quoted its source as saying.
Another source revealed that the Adani Group was not satisfied with the amount of financial contribution Tower was willing to make into the partnership. Tower was to provide technological expertise in the deal, but "Adani wanted Tower to have more skin in the game" in financial terms, the source added.
The semiconductor facility, announced in Maharashtra last September, was envisioned to produce 80,000 wafers per month and generate approximately 5,000 jobs.
The report further noted that Adani’s rethinking of the plans could be another potential blow to Indian Prime Minister Narendra Modi’s "Make in India" initiative aimed at promoting the semiconductor industry.
Meanwhile, India still lacks an operational chipmaking facility. A proposed $19.5 billion joint venture between Indian conglomerate Vedanta and Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, was called off in July 2023 due to concerns from the central government over rising project costs and delays in incentive approvals.
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MYAS launches quiz on national flag, 25 top-scorers to get trip to Siachen with Mandaviya
New Delhi, Aug 7 (PTI): The Ministry of Youth Affairs and Sports (MYAS) has launched an online quiz on the national flag and 25 top-scoring participants in the age bracket of 21 to 29 will get an opportunity to visit Siachen with Sports Minister Mansukh Mandaviya.
The quiz, according to the ministry, will "foster patriotism and enhance awareness about the Indian National Flag."
"This online quiz, hosted on the MYBharat portal (mybharat.gov.in), invites all citizen to participate and test their knowledge about the Tricolour," the ministry stated.
It will consist of multiple-choice questions and all contestants will be awarded an e-certificate.
"As a grand incentive, 25 top-scoring participants will be selected for a remarkable opportunity to visit Siachen in the company of the Union Minister for Youth Affairs and Sports, Dr. Mansukh Mandaviya," the ministry said.
"The selection of winners for the Siachen visit will be limited to youth between the ages of 21 and 29. The final selection of the 25 winners will be conducted through a computer-based lottery system from the pool of top scorers," it added.
