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News Snapshot:

Reuters India has an opportunity to cash in on global companies' efforts to build factories outside China, the new World Bank president said on Wednesday, as firms seek to diversify their supply chains. His comments follow recent investment announcements by U.S. firms, including chipmaker Micron Technology, in India and come as the United States looks for a strong counterweight to China in Asia amid growing tensions in ties. In recent years, many companies have adopted a "China Plus One" strategy to build new manufacturing units outside the People's Republic.

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