what are the steps taken by india to reconcile its accounting
standards with that of the international accounting standard?
What are the steps taken by USA to reconcile its accounting standards
with that of the international accounting standard?
OR have any changes taken place in the india accounting standards to
reconcile with the international accounting standards

By international accounting standards, do you mean the accounting
standards set by the International Accounting Standards Board
(http://www.iasc.org.uk)? According to their website, the IASB works
with the accounting standards boards of 7 nations to try to bring them
into convergence. The United States is one of those countries, and its
liason with IASB is through the Financial Accounting Standards Board,
which in turn sets standards for the USA stock exchange and
accountants. So one could assume that their accounting standards are
fairly similar.

The IASB has a list of worldwide countries and how IASB's standards
are being used in those countries here:
http://www.iasc.org.uk/cmt/0001.asp?n=73&s=10199260&sc={0E0CE4AB-D6A1-4D47-87EF-6DEDBDB2FA3F}&sd=337889194

From that information, it appears that India's standards take the
international accounting standards into consideration, but differ in
some areas. It appears that in 1998, India began to change its
accounting standards, but how or whether it was to help bring them
more in line with IAS isn't clear.

Hopefully this will help you or another researcher get started.