India has extended its sugar export restrictions beyond 31 October to protect its domestic supplies, Bloomberg reports, citing a notice from the Directorate General of Foreign Trade. India introduced a quota system in 2022-2023 to limit sugar exports to some 6 mn tons after production dropped due to late rains, down from 11 mn tons a year earlier, the outlet writes. The restrictions extend to shipments of organic sugar, the outlet adds. The extension — which aims to cool down India’s domestic prices — is a blow to manufacturers of fizzy drinks, chocolates, and baked products, who rely on the world’s second biggest sugar producer for supplies, the outlet writes.

India wants to become a top-five shipbuilding and repair nation within 10 years, according to a statement by India’s Prime Minister Narendra Modi. Investors and stakeholders attending the Global Maritime India Summit 2023 were urged by Modi to partner with India to become part of the country’s maritime growth journey, according to Splash.

GM pushes back EV truck production at Michigan:US-based automaker General Motors is pushing back production of electric pickup trucks at its Michigan’s Orion Township plant to late 2025 amid stagnant EV demand, Reuters reports. The company was initially expected to start production in late 2024 at its Detroit plant. The company reiterated in July its goal of producing 400k EVs between 2022 and 1H 2024, forecasting a total production of 100k EVs in 2H 2023. GM is still set to increase EV production in 2024, introducing a new shift at its Detroit-Hamtramck factory. GM is also looking to build the GMC Sierra EV in the following year in Detroit.

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