Build your professional network on facebook via our app Go to app
 
 
 
POOR INDIA : India to invest $10bn in IMF, says Pranab ! by ROOP JALUTHARIA, Head/VP/GM-Corporate Planning/Strategy, Recycling Business Power Processes Pvt. Ltd.

POOR INDIA : India to invest $10bn in IMF, says Pranab !

By : ROOP JALUTHARIA, Head/VP/GM-Corporate Planning/Strategy, Recycling Business Power Processes Pvt. Ltd.
Industry : Public Sector/Government Functional Area : Movers & Shakers
Keywords :

super power india

Activity:  8 comments  254 views  last activity : 07 06 2010 20:18:04 +0000
 Refer 66
Share
 
 
 
POOR INDIA : India to invest $10bn in IMF, says Pranab !



London: India is set to invest up to $10 billion in the International Monetary Fund (IMF) as part of a major thrust to wrest a greater say in the running of international financial institutions, finance minister Pranab Mukherjee announced on Friday. 

“India has decided to invest up to $10 billion of its reserves in notes issued by the International Monetary Fund,” Mukherjee said after a meeting of the finance ministers of Brazil, Russia, India and China (BRIC) in London.

 The Indian pledge is part of a total of $80 billion that the four BRIC countries will invest into the IMF in order to replenish its fund aimed at helping out countries that are struggling in the current financial crisis.


   China will account for $50 billion of this amount, and the rest will be borne by India, Russia and Brazil.

 In return, the BRIC countries want a greater say in the running of the IMF and other international financial institutions such as the World Bank, including a larger share of quotas and voting, said Brazil’s finance minister Guido Mantega.

Part of the BRIC meeting was joined by US treasury secretary Timothy Geithner in a move that Mukherjee described as “an acknowledgement of the group’s emergence as a key voice in global economic and financial issues”. IANS
( SOURCE : TIMES OF INDIA : 05/09/2009 )
 Top Comment : Makrand Bhave   | 09 06 2009 02:43:09 +0000
Is that an irony?? Poor India investing?? :)) Are we really a POOR THIRD WORLD COUNTRY?? thanks for the referral.
go to top
 
8 comments on "POOR INDIA : India to invest $10bn in IMF, says Pranab !"
Sort by: Most Recent Top Rated
  Commented by  Esha Johar, Risk Analyst, Irevna    | 09 07 2009 11:19:42 +0000
Rating : +1  
I agree with Japan. India is taking a very good step by investing in Bonds of IMF.. As we can see, the difference between the investment by China and the other BRIC countries, reveals EOD China is only going to benefit. This is a show of strength to the developed countries that the BRIC countries also have a lot of money power and they must have a better stand at the IMF...
  Commented by  Japan Shah, Assistant Professor, Omegan School of Business    | 09 07 2009 09:26:21 +0000
Rating : +2  
Thank for the article Mr. Roop..

It is good that India is investing in the Bonds of IMF.. Here two things are notable, see the difference between the investment by China and the other BRIC countries, also it is very spectical that the IMF will give a say to the BRIC companies, EOD China is only going to benefit..This also can be considered as a show of strength to the developed countries that the BRIC countries also have a lot of money power and they must have a better stand at the IMF...

Also in the current situation when we are facing acute crises back in INDIA , i don know what will we benefit out of the investment. .
  Commented by  Paresh.Khanchandani, Process Manager, E-Procurement Technologies Limited    | 09 07 2009 07:04:14 +0000
Rating : +1  
Thanks For Referral Mr. Jalutharia !!
It is going be good future investment...
  Commented by  Sayan Chakraborty, Technical Consultant, Satyam Computer Services    | 09 06 2009 21:45:00 +0000
Rating : +1  
I get a feel good factor but at the same time little dissapointed that the difference between India and China's investment amount to such huge gap.
  Commented by  Charles davison, Project Manager, Douglas OHI LLc oman    | 09 06 2009 10:46:09 +0000
Rating : +1  
The time has come and I am happy India is investing in IMF.
I do feel it means a lot for India,A small step in the right direction.
  Commented by  Padmanabhan R, Finance student    | 09 06 2009 09:53:12 +0000
Rating : +2  
Thanks for the info Roop sir. 
From what I have learned I think they are planning to invest in imf bonds, but not clear about whether they would be increasing our importance/ quota or how attractive the investment is and also at present the huge fiscal deficit need to be considered. BRIC  is becoming prominent day by day, but we need to be always cautious about China, who was always successful in containing India to the subcontinent while having an aggressive growth through exports (well planned and executed) . We need more foreign exposure to propel our economic development, but don’t know any details about this .Waiting for some experts to comment…
  Commented by  Nagpal Singh, Sales and Business Development, Babel Group of companies    | 09 06 2009 03:33:56 +0000
Rating : +1  
a good investment for future....
  Commented by  Makrand Bhave, XYZ    | 09 06 2009 02:43:09 +0000
Rating : +1  
Is that an irony?? Poor India investing?? :)) Are we really a POOR THIRD WORLD COUNTRY?? thanks for the referral.
Add your comment on "POOR INDIA : India to invest $10bn in IMF, says Pranab !"

Rate:
Submit
 Found the article "POOR INDIA : India to invest $10bn in IMF, says Pranab !"  interesting ?  Share with your connections and communities  
Leading recruitment firm
Leading recruitment firm
Viewers also viewed
with current politicians vs never
 
1684 referals 30 arguments, 1177 views
At the time of election 14 out of 15 congress regional president are in favor of patel.Then...
 
182 referals 43 arguments, 1360 views
more...  
Recent Knowledge (89)
This is what True Love is all about: It was a busy morning, approximately 8:30 a.m., when an...
 
2609 referals 51 comments, 1424 views
India-Iran Drama Continues If Iran really was behind the February 13 attack  on an Israeli...
 
98 referals 4 comments, 72 views
  One more vuxury car is here. Price : styarting from 14.12lakhs Available in 3 variants . The...
 
2331 referals 10 comments, 274 views
more...  
Sponsored Jobs
More From Author
His use of 'Cattle Class" for the poor travellers is very derogatory in nature, devoid of any sensitivity and human feeling. If a politician has  these kinds of thinking for the masses, how you can expect him to do any good to the commen people, leave...
GREEN CITIES : ‘India should not imitate the West’ ! By 2050, three-quarters of humanity will be staying in cities. With global warming threatening the world, building eco-friendly ‘green cities’ has become a challenge for urban planners and...
Yes, The Congress should take some actions against such a loose-tongue politician ! His use of 'Cattle Class" for the poor travellers is very derogatory in nature, devoid of any sensitivity and human feeling. If a politician has  these kinds of...
more...