India seeks Rupee’s global reach, no plan to replace US dollar: EAM S Jaishankar External Affairs Minister Dr S Jaishankar clarifies India’s stance in London.
India Seeks Rupee’s Global Reach, But No Plan to Replace US Dollar: EAM S. Jaishankar
In a recent address in London, External Affairs Minister Dr. S. Jaishankar made a significant statement regarding India’s economic aspirations. He emphasized that while India is keen on enhancing the global reach of the Indian Rupee, there is no current policy to supplant the US dollar as the dominant global reserve currency.
India’s Economic Stability at the Forefront
Dr. Jaishankar highlighted that economic stability is paramount for India. He explained that the country’s approach to international trade and financial transactions is not about dethroning the US dollar, but rather about ensuring that the Indian Rupee is recognized and utilized more broadly in global markets. This strategy aims to bolster India’s influence in global trade without disrupting the existing financial order.
Encouraging Rupee Transactions
As part of its strategy, India is advocating for the use of the Rupee in international trade, particularly with its neighboring countries and major trading partners. The government believes that increasing Rupee transactions will not only promote the currency but also reduce exchange rate risks and transaction costs for Indian businesses.
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Conclusion
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