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India’s Dollar Stance Disrupts BRICS De-Dollarization Efforts
India’s Dollar Stance Disrupts BRICS De-Dollarization Efforts
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India has firmly rejected the Global South’s push to reduce reliance on the US dollar, dealing a significant blow to BRICS currency diversification plans. New Delhi’s unambiguous refusal to participate in dollar-substitution initiatives has exposed fissures within the emerging economic bloc.
The standoff highlights growing divisions between members like Russia and China advocating for alternatives, while India maintains steadfast support for dollar hegemony. This impasse raises fundamental questions about the feasibility of BRICS’ ambitious currency roadmap.
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