Rapid Fire Current Affairs | 19 Oct 2023

The Cabinet Committee on Economic Affairs, has approved the Green Energy Corridor (GEC) Phase-II - Inter-State Transmission System (ISTS) for a 13 GW Renewable Energy Project in Ladakh.

The project is aimed to be set up by FY 2029-30. Power Grid Corporation of India Limited (POWERGRID) will be the Implementing Agency.
The project will contribute to achieving the target of 500 GW of installed electricity capacity from non-fossil fuels by year 2030. Promote ecologically sustainable growth by reducing carbon footprint.
The project will generate large direct & indirect employment opportunities especially in the Ladakh region.
This project is in addition to Intra-State Transmission System Green Energy Corridor Phase-II (InSTS GEC-II), already underway in several states for grid integration and power evacuation of approximately. 20GW of RE power and is expected to be completed by 2026.

International Business Machines Corporation (IBM) has announced the signing of three Memoranda of Understanding (MoUs) with entities associated with the Ministry of Electronics and Information Technology (MeitY) to drive innovation in the fields of Artificial Intelligence, Semiconductor technology, and quantum technology in India.

These collaborations aim to expedite India's national strategy for AI, bolster self-sufficiency in semiconductor technology, and advance the National Quantum Mission.
The partnerships involve establishing a National AI Innovation Platform (AIIP) to foster AI skills and development, a semiconductor research center to promote innovation in semiconductor technologie.