AKIPRESS.COM - India along with three other BRIC nations joined the Bretton Woods-based International Monetary Fund’s (IMF) top-10 elite club, reports New Indian Express.

India’s voting rights moved up from the current 2.34 to 2.44 per cent. Though the percentage increase is marginal, it significantly positions ‘Brand India’ among the top 188 IMF member countries.

The idea to include four emerging economies - India, China, Brazil and Russia - in the top 10, was first mooted in 2010, approved by the US Congress in 2015 and came into effect on Thursday (Jan 28). With this, over 6 per cent of quota shares shifted to emerging countries and marks the shift in shares from over-represented to under-represented IMF members. US, Japan, France, Germany, Italy and the UK comprise the rest of the top-10 list. The reforms also increase the financial strength of the IMF, by doubling its permanent capital resources to $659 billion.