Biz Updates: Chinese factories delayed in many states, production down 17%; Skoda vehicles up to three percent expensive
New Delhi| Sugar production declined by 17 per cent to 61.39 lakh tones by 15 December in the current marketing year, which began in October, due to late commissioning of factories in several states. These figures do not include the amount of sugar use for ethanol manufacture.
Sugar mills in Karnataka this year started about 7-12 days later than last year, the Indian Sugar Mills Association (ISMA) said. Sugar mills in Maharashtra became operational 15-20 days later than last year. According to the data, sugar production in Uttar Pradesh increased from 22.11 lakh tones to 23.04 lakh tones. However, production in Maharashtra declined from 24.45 lakh tones to 16.78 lakh tones. Similarly, sugar production in Karnataka was reduced from 17.56 lakh tones to 13.85 lakh tones. This year, the use of sugar in making ethanol is estimated to be 4 million tons more than last year’s 21.5 million tons, Isma said.
Vehicles of automobile manufacturer Skoda will become costlier by three percent from January 1. The company said, this decision had to be taken due to increase in input costs. Prices will increase on all models. Many companies including Tata Motors have also announced to increase prices from January 1.
Enthusiasm towards Artificial Intelligence (AI) is very high in India, but there are many big obstacles in the way of its adoption. Nearly 92 per cent of Indian technology executives consider various security-related challenges, including hacking and cyber threats, to be the biggest obstacles to the adoption of AI, Deloy Asia Pacific said in a report. 91 percent have raised concerns about privacy risks associated with sensitive data in the use of AI. More than half of executives admit, their workplaces aren’t prepared to deal with AI-related risks. This situation shows that in the era of rapidly growing AI, a strong framework is needed to reduce risks.
Five more companies have applied to the government to set up e-commerce export centers in the country. A decision on this is expected to be taken soon. An official said, we have received five more applications including DHL and Lexship. We have kept three of these in the final list. Two of these centers will be established around Delhi Airport. Their operation will start in February next year.
Aviation regulator DGCA has issued a show cause notice to Akasa Air in case of violation of rules related to operation of aircraft. The regulator has sought some clarifications, the company said. The company has received two notices so far this month.
