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India slows down BRICS plans: US dollar remains king!
India rejects BRICS currency, strengthens US dollar due to trade risks and Chinese influence, remains skeptical.
India slows down BRICS plans: US dollar remains king!
BOMB: India says NO to BRICS currency! The economic miracle of India is clearly backing down on the introduction of a common BRICS currency. The country fears endangering its stable trade relations with the USA. Why this? It's clear: the US dollar is the backbone for Indian companies and offers security in turbulent times, so reports watcher.guru.
In the shadow of the BRICS techtel, India makes no secret of the fact that a common currency will only give China more power. China and Russia are the driving forces behind this idea - not exactly India's favorites in the global game! Russia's economy is reeling under sanctions and China is the number one dollar hunter. But for India? IT, banking and trading are at stake - all closely linked to the beloved dollar neighbors from the big pond. as the article on watcher.guru reveals.
India's Foreign Minister S. Jaishankar sets clever accents. He reiterates that the country needs the dollar to keep its brilliant economy on track. BRICS would ruin the dream of becoming the world's third largest economy. End of story: India remains loyal to the dollar – it clearly rejects the BRICS currency.