India has never been for de-dollarisation, says foreign minister S Jaishankar

India has never been in favour of de-dollarisation and there is currently no proposal for a BRICS currency, External Affairs Minister S Jaishankar said on Saturday.

He made the remark a week after United States President-elect Donald Trump threatened 100% tariffs on the BRICS bloc and its allies unless they abandon efforts to reduce reliance on the US dollar in international trade.

The BRICS group, initially comprising Brazil, Russia, India, China and South Africa, has expanded to include Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt and Ethiopia.

Jaishankar, addressing the Doha Forum in the Qatari capital, said on Saturday that he was not sure what the trigger for Trump’s remark was. “But we’ve always said that India has never been for de-dollarisation,” he said.

The foreign minister said that all BRICS members do not share the same position on the matter. “But where India is concerned, the United States is our largest trade partner,” he said. “We have no interest in weakening the dollar at all.”

At the @DohaForum Panel on ‘Conflict Resolution in a New Era’ alongside PM & FM @MBA_AlThani_ of ???????? and FM @EspenBarthEide of ????????. #DohaForum

https://t.co/IilJ2moBQz— Dr. S. Jaishankar (@DrSJaishankar) December 7, 2024

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