EU 'off the pace' in global microchip race: auditors
The Hindu
The EU is lagging behind in the global race to produce microchips.
The EU is lagging behind in the global race to produce microchips, and looks set to fall well short of its target to claim a fifth of the world's market, the bloc's auditors said Monday.
"The EU urgently needs a reality check in its strategy for the microchips sector," said Annemie Turtelboom, a member of the European Court of Auditors.
"This is a fast-moving field, with intense geopolitical competition, and we are currently far off the pace needed to meet our ambitions."
The disappointing outlook for the European Union comes despite Brussels passing a flagship Chips Act in 2023 aimed at bolstering production in the bloc.
Turtelboom said that at current growth rates, the EU was "nowhere close" to reaching its target of having a 20 percent share of the global microchip market by 2030.
In its own estimates, the European Commission forecasts the EU's share will only reach 11.7 percent in 2030, up from around 10 percent in 2022.
"Europe needs to compete -- and the European Commission should reassess its long-term strategy to match the reality on the ground," Turtelboom said.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.