India Rules Out De-dollarisation, Focuses on Local Trade
India has firmly stated that de-dollarisation is not part of its financial agenda, even as discussions continue among BRICS nations on using local currencies for trade.
MEA Clarifies India’s Position
The Ministry of External Affairs confirmed that India has not taken steps to move away from the U.S. dollar. While other BRICS countries have floated the idea of alternative currencies, India prefers careful dialogue rather than radical currency shifts.
Council Coordination Continues
Despite the firm stance on de-dollarisation, India remains engaged with BRICS partners on trade and economic matters. A virtual BRICS summit, hosted by Brazil, is expected to reinforce cooperation on common issues without altering core currency policies.
Strategic Caution Amid Tariffs
India’s position comes amid mounting global trade tensions. The United States recently raised tariffs on Indian exports, prompting New Delhi to deepen coordination with global partners. India’s measured approach seeks to balance economic sovereignty with financial stability.
