India Clears Policy To Build New Industrial Zones

India passed a flagship policy on Tuesday to encourage manufacturing by streamlining labor and environmental rules in industrial parks, a move it says is key to create jobs and keep Asia's third-largest economy on a fast-growth track. Business leaders welcomed the news, which will be a boost for Prime Minister Manmohan Singh, whose second-term agenda of big-ticket economic reforms has been knocked off course by corruption scandals and a lack of clear leadership.