India Pushes Back: ’BRICS De-Dollarization Hype Is Overblown’

BRICS' grand plans to dethrone the dollar? India just called it wishful thinking.

While the bloc talks big on currency rebellion, New Delhi slams the brakes—calling the de-dollarization narrative 'exaggerated.' No sugarcoating, no geopolitical posturing. Just cold, hard pragmatism from the world's fastest-growing major economy.

Here's the kicker: Even as BRICS members fantasize about dollar alternatives, India's playing the long game. Why burn bridges when you can hedge your bets? Smart money says they're stacking crypto reserves while the ideologues argue.

Memo to BRICS: Before you overthrow the dollar, maybe check if your own currencies can survive a 5% Fed rate hike. Just saying.

India Sides With the US on BRICS De-Dollarization Issue

Jaiswal revealed that India is not fully onboard with the US dollar either and plans to explore cross-border rupee usage. India wants to dim the lights on de-dollarization and BRICS currency by promoting the rupee on the international stage. However, the development is at its nascent stage and has a lot of parameters to go through before going live.

The Minister claimed that the BRICS summit was successful as India’s Modi led the talks and refrained from using de-dollarization.he said.

BRICS member India has time and again refrained from the de-dollarization agenda since TRUMP took office in January. The country hosts the IT sector jobs outsourced from the US, and its economy banks on it. The jobs fund the housing sector, including many other businesses, thriving in the country. India, without the IT sector, is mostly an unemployed country, and the Modi-led government does not want to risk it.