IMF quota overhaul puts India
in top 10 members
Lead to a major overhaul of the Fund's quotas and
Consist of the US , Japan , the BRICs (Brazil, China ,
India, Russia), and the four largest European countries
(France, Germany, Italy, the United Kingdom).
The Executive Board of IMF also endorsed a timeline
that calls for the quota increase and realignments to take
effect by the annual meetings.
A shift of more than 6% of quota shares to dynamic
emerging market and developing countries & more than
6% from over-represented to under-represented
US not trying to 'single out'
Indian IT cos: Locke
The US government had decided increase the visa fee
to raise an additional $600 million to beef up border
US President Barack Obama will meet the Indian
business leaders during his three-day visit.
If other US states would follow Ohio's ban on
outsourcing work to foreign companies, India had
been affected as it was not a signatory to the
Government Procurement Agreement (GPA) under the
The GPA is a pact that deals with the issues relating to
Obama arrives on 3-day visit to
India; 18 announcements likely
Obama, the sixth US President to visit India
and the third in 10 years.
President intends to be "a full embrace of
India's rise, a way to develop and deepen the
broadest possible relationship with India as a
cornerstone of our Asia policy."
The Presidential couple was warmly received
by Maharashtra Chief Minister Ashok Chavan
, Union Minister Salman Khursheed.
US business chiefs see Obama
trade boost in India
There are strong rumours that very archaic export
control system that exists between the U.S. and
It is good for jobs in both countries.
India wants Obama to abolish export restrictions on
dual-use technology that could be used to build
Obama could announce his plan to ease export
controls during an address to U.S. and Indian
corporate leaders at a business conference.
Obama's visit comes at a vital time amid rising anti-
trade rhetoric spurred by high unemployment.
My stay at Taj is powerful
message against terror: Obama
Paying homage to the victims of 26/11
Taj is a symbol of strength of Indian people.
Also talked about the role of an Indian navy
who saved the life of a toddler.
US and India are working together, more
closely than ever to deepening counter-
terrorism (cooperation), to keep our people
Gold coin sales boom for India's
Sold more than a half-tonne of gold coins in the
last two years.
India is traditionally a buyer of gold jewellery -- a
common gift during religious events and
Consumers are becoming increasingly aware of
the benefits of holding gold in other forms like
coins, bars, and via exchange traded funds.
The country is in the peak of the festival season,
when consumers buy gold to invoke prosperity.
The World Gold Council (WGC) expects 2010
imports to breach the 800 tonne-mark, surpassing
the record 770 tonnes of imports seen in 2007.
Investors & Consumers now want safety towards
inflation, to protect wealth and also think about
returns...so gold is the best available option
Gold is a regulated sector in India and the federal
government has allowed 23 state and private
banks to trade in bullion at the wholesale and