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U.S. President Barack Obama called Modi to congratulate him and invited him "to visit Washington at a mutually agreeable time to further strengthen our bilateral relationship"  ;)

Source 1: http://edition.cnn.com/2014/05/16/politics/modi-us-visa/

Source 2: http://in.reuters.com/article/2014/05/16/us-india-modi-obama-call-idINKBN0DW1NY20140516

Source 3: http://www.bloomberg.com/news/2014-05-16/india-s-modi-now-welcome-to-visit-u-s-after-visa-ban.html

Now Modi will have his revenge. Obama, and some of his associates (such as Madeleine Albright) tried to insult Modi as much as they could. But they never imagined that it will backfire.  ;D

I think Modi is going to take a clever stand in this game. Though he is not highly educated by any formal education, he has been educated by the institution called life. He wont get into any revenge game here but try to make things better for Indian entrepreneurs. Given the kind of person he is, it is highly unlikely that he'll be dominated by any of the world leaders.

I am not sure about whether Modi will forgive the US for his humiliation or not. But Institutional Investors from the US are rushing to the Indian markets, and the BSE Sensex has increased by almost 20% ever since the exit poll results. Soon the other investors will also be looking to invest in India. So Obama better get his plan right.

Yes ....and as soon as these 'other investors' will jump in, the FII will flow out having pocketed the small investors money. This market pumping has happened several times in past and interestingly I learned some of these tricks while coding something for Nomura. FII pumping should always be avoided...

Lets be positive. Lets hope Modi acts sensibly and forget personal grievance and holds country's prosperity as his prime issue.Lets hope Modi will accept this invitiation of Obama constructively

Did the fundamental change as far as economic is concerned?

Modi will accept this invitation. But it needs to be seen whether he will bow down to the American pressure in important issues such as Foreign Direct Investment (FDI) in the retail sector. The outgoing Prime Minister (Man Mohan Singh) was a very weak person and Obama would have preferred him any day over Modi.  ;D

It is good that u pointed out this view. As u say outgoing Prime Minister was very weak and Obama would have preferred him over Modi in the same way we can say Indians pefer Modi over ManMohan Singh. And lets hope Modi be a strong personality and take this invitation as an oppurtunity and may be with his intelligence will not bow down to American pressure but turn it something better

Changing the Prime minister alone can not change the fundamental problem of a country.

Root cause start with individual. The inaction of individual against injustice and corruption is what caused a country not to progress.

Early days... don't want to predict too much. Let's wait and watch.

BTW.... please check my post here (https://bitcointalk.org/index.php?topic=559281.msg6873221#msg6873221), about the foreign policy of Modi govt.

The visa ban was imposed in 2005, when George W. Bush was President.  If anything, Obama & Kerry have quietly sidestepped it by reaching out to Modi well before he won the election.
It is correct to say, though, that the self-made, brusque, nationalist former tea-stall-owner has little in common with the also self-made liberal internationalist college professor and community organizer.

Not as simple as it seems. Even in 2005, the Democrat senators were on the forefront to ban Modi. Keith Ellison, the Muslim Representative from  Minnesota's 5th district was the one who lead the anti-Modi campaign.

And last month, Keith Ellison introduced a controversial Congressional resolution (House Resolution 417), aiming to extend the American visa ban on Modi. Idiots like Ellison will make sure that Modi remains hostile to the US.

Apology is in order by USA to Narendra Modi for imposing a selective, exclusive policy that denied his visa. US has no moral integrity to deny him while embracing all the country leaders who have engaged in human rights violations, conducted ethnic cleansing, denied freedom of religion, depleted Hindus in Pakistan and Bangladesh, and remained silent when Kashmiri pundits were forced flee their homes to live in tents.

I don't think that the US will ever issue an apology. But as you said, this is hypocrisy at its best. The US denied visa to Modi, accusing him of taking no steps to prevent the Gujarat riots. Looking back at history, the Gujarat riots were a tragic set of events, where two communities clashed with each other, receiving hundreds of casualties. But I don't understand Modi's role here. He did all that he could to calm the situation. On the other hand, look at those who denied him the visa. The same people who bombed the orphanages of Belgrade and other cities in Serbia, killing hundreds of children.

US  Administration got suckered into internal matter of sovereign India. Without waiting for verdict of India's constitutional and judicial due process, it pronounced its verdict on Modi, based entirely on false propaganda.  Now it does not know how to extricate itself from mess it created, so it is digging in deeper and deeper.