DEFINING EVENTS OF THE YR

THE year 2024 was full of surprises, and events that defined the business and economic landscape of India.

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While some of them turned out to be positive for the country, many others put the country's economic resilience to test. We list out some of the defining events of the year:

Giant leap for semicon industry

The government approved India's first semiconductor fabrication unit (fab) in Dholera, Gujarat. The project is a joint venture between Tata Electronics and Powerchip Semiconductor Manufacturing Corp of TaiwanIt has approved two assembly, testing, marking, and packaging (ATMP) units - one in Assam and the other in Dholera. An assembly and test (OSAT) facility is being set up by CG Power and Industrial Solutions.

This JV with Japan's Renesas Electronics Corporation and Thailand's Stars Microelectronics is another major step forward for the sector. This includes the approval of Micron Technology's packaging unit and Kaynes Semicon's chip unit in Gujarat.

New capital gain tax