External Affairs Minister S. Jaishankar said on Saturday that India has no interest in weakening US dollar and that the country had never supported de-dollarisation.
His remarks came weeks after US President-elect Donald Trump threatened to impose 100 per cent tariff on imports if the BRICS countries, which include major emerging economies like India, Russia and China, went ahead with their own currency.
“I am not exactly sure what was the trigger for it but we've always said that India has never been for de-dollarisation. Right now, there is no proposal to have a BRICS currency,” Jaishankar said at an event in Qatar’s capital Doha.
At the @DohaForum Panel on ‘Conflict Resolution in a New Era’ alongside PM & FM @MBA_AlThani_ of 🇶🇦 and FM @EspenBarthEide of 🇳🇴. #DohaForum
— Dr. S. Jaishankar (@DrSJaishankar) December 7, 2024
https://t.co/IilJ2moBQz
BRICS is the only major international group of which the US is not a part. Over the past few years, a few of its member countries, especially Russia and China have been seeking an alternative to the US Dollar or creating their own BRICS currency. India has so far not been part of the move.
Jaishankar said BRICS members don’t have an identical position on the issue. “Every country has its interests. They agree on some, they disagree on some. Sometimes the same countries work in different combinations in different issues,” he said.
READ: Why is US dollar the global currency and why did Trump threaten the BRICS nations?
Speaking about the India-US relations during the first Trump administration, Jaishankar noted that the revival of Quad was an important step in strengthening regional cooperation.
“We had a strong and solid relationship with the first Trump administration. Yes, there were some issues mostly trade related, but there were a whole lot of issues on which actually President Trump was forward leaning,” he said.
