2. IMF quota overhaul puts India
in top 10 members
 Lead to a major overhaul of the Fund's quotas and
governance.
 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
countries.

3. 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
security.
 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
WTO.
 The GPA is a pact that deals with the issues relating to
government purchases.

4. 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.

5. 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
India.
 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
nuclear weapons.
 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.

6. My stay at Taj is powerful
message against terror: Obama
 Paying homage to the victims of 26/11
attacks.
 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
safe.

7. Gold coin sales boom for India's
post office
 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
weddings.
 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.

8. Contd…
 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
retail levels.

9. THANKS