On December 7, at an event in Qatar’s capital Doha, India’s External Affairs Minister Subrahmanyam Jaishankar said BRICS countries have no interest in weakening the U.S. dollar at all.
His remarks came a week after U.S. President-elect Donald Trump in a post on Truth Social on November 30, said, “We demand a commitment from these countries that they will neither create a new BRICS currency nor support any alternative currency to replace the mighty US Dollar, or they will face 100 per cent tariffs.”
Notably, BRICS is the only big multi-nation bloc in the world which does not include the US. 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.
Commenting on the BRICS-related remarks, Jaishankar stated, “There a personal relation between PM Modi and Trump…Where the BRICS remarks was concerened. We’ve always said that India has never been for de-dolarisation, right now there is no proposal to have a BRICS currency. The BRICS do discuss financial transration. US is our largest trade partner, we have no interest in weakening the dollar at all,” he added. 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.
