Monday February 18, 2019
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Haryana CM woos US investors with new industrial policy

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Washington: Haryana Chief Minister Manohar Lal has invited US businessmen to invest in his state saying Haryana’s new industrial policy offered an ideal climate for doing business and getting best return on investment.

“Haryana has witnessed a remarkable growth in terms of infrastructure,” he said at a reception hosted by the Indian ambassador Arun K. Singh for Lal, leading a 20-member delegation of officials and businessmen on a 10-day trip to the US and Canada.

While the state had only four national highways till now, nine national highways are being built to connect the districts, he said.
The state has an abundance of raw material for industries, which could be transported easily as a result of these new road projects.

The Western Peripheral Expressway, also known as Kundli-Manesar-Palwal Expressway, work on which has begun, would work to the advantage of investors.

Efforts were also being made by the state government to set up an aviation hub in Haryana, including the Maintenance and Repair Operation (MRO) facility for the aircraft industry.

agri11Haryana being an agrarian state, the setting up and promotion of agro-based industries, food processing would remain a priority for the Haryana Government, Lal said.

Pharma, information technology, auto, defence production, aerospace and aircraft industries were other priority key sectors.

In his welcoming remarks Singh, India-US relationship had attained new heights with their cooperation deepening in the established sectors while new fields were being continuously added to widen it.

The ambassador said Lal’s visit was an example of “collaborative federalism” and “competitive federalism” encouraged by the new Modi government whereby states complement the central government’s efforts to win business abroad even as they compete with each other.

US-India Business Council and the Confederation of Indian Industry are hosting a lunch roundtable with the Haryana delegation on Wednesday at the US Chamber of Commerce.

Haryana’s Industries and Commerce Minister Capt. Abhimanyu will also speak at the roundtable, while Principal Secretary Devender Singh will make a presentation on Investment Opportunities in Haryana.

(IANS)

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US Dollar Weakens Amid Gloomy Economic Data

The Australian dollar rose to $0.7105 from $0.7094.

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US Dollar
The dollar index, which measures the greenback against six major peers, fell 0.15 per cent at 96.9817 in late trading. Pixabay

The US dollar declined as the allure of the greenback diminished amid a slew of downbeat economic data.

In late New York trading on Thursday, the euro rose to $1.1299 from $1.1269 in the previous session, and the British pound decreased to $1.2801 from $1.2850 in the previous session, Xinhua news agency reported.

The Australian dollar rose to $0.7105 from $0.7094.

The US dollar bought 110.47 Japanese yen, lower than 110.99 Japanese yen of the previous session. The US dollar was down to 1.0047 Swiss franc from 1.0088 Swiss franc, and it increased to 1.3281 Canadian dollars from 1.3250 Canadian dollars.

US Dollar
The Australian dollar rose to $0.7105 from $0.7094. Pixabay

US retail sales in December fell 1.2 per cent from the prior month, the worst drop in nine years, the Commerce Department reported on Thursday.

The unexpected decline, which came after a downwardly revised 0.1 per cent increase in November, signals a weaker economic momentum.

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The dollar index, which measures the greenback against six major peers, fell 0.15 per cent at 96.9817 in late trading. (IANS)