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In a blow to BRICS, India’s Foreign Minister has declared it will not support the creation of a BRICS currency and will instead look to strengthen the Rupee instead.
Other countries within the organisation back the creation of a BRICS currency, with Russia saying the BRICS currency will be gold-backed. However India will not be utilising it.
When India continuously acts in the US’ interests by joining the QUAD, opposing a BRICS currency, pursuing conflict with China, increasing military cooperation with the US, and following disastrous Washington Consensus neoliberalism which has left hundreds of millions of its citizens in poverty…should India even be in BRICS?
Aren’t new applicant nations like Saudi Arabia, UAE, Iran and others arguably a better fit in BRICS than India?
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This wasn't going to work anyway but, just in case, India torpedoes talk of a BRICS currency.
"Currencies will remain a national issue for a long time to come."-Jaishankar
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India’s Foreign Minister just threw cold water on the idea of an alternative reserve currency, publicly contradicting Russia. Will next month's BRICS Summit be the beginning of the end for US dollar hegemony or a dud? The stakes couldn't be higher.
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India has been playing both sides. America is so weak they just let them because they need them to replace China with manufacturing. American foreign policy is