U.S.A. CAPITAL

Grey River Argus, 18 September 1945, Page 2

U.S.A. CAPITAL

FOR INDIA’S INDUSTRY NEW DELHI, Sept. 16. A group of leaders of industry in India have just returned from a tour of Britain and America. They report that India’s industry in the next few years will be forced to seek much of its equipment from the United States. They state Britain is not. able to supply textile machinery for at least two years. It is proposed that there shall be importation of American plant. However, the question .is closely linked with the availability of dollars as well as India’s frozen sterling assets. The industrialists report that they found a “certain amount of sensitiveness,” in Britain regarding; India’s sterling balances, but “American Government and business appreciated the importance of the question, not only in relation to India’s future, but its effect on the possibilities and opportunities to America with countries with the sterling area.”