India not supporting Russia in BRICS Currency plan — Here’s why
India Not Supporting Russia in BRICS Currency Plan — Here’s Why As the 17th BRICS Summit unfolds in Rio de Janeiro, India’s bold rejection of the proposed BRICS joint currency has sparked global debate. While Brazil, Russia, China, and South Africa leaned into the idea of a “BRICS bill” to challenge dollar dominance, India—through a clear statement by S. Jaishankar—refused to back de-dollarization.
Is this a shift in India’s global alignment? With PM Modi on a five-nation foreign tour and Donald Trump offering a $500 billion India–U.S. trade deal, questions swirl: Has India quietly moved closer to the West? Did India sacrifice the BRICS currency—and its old friendship with Russia—for long-term economic stability?
This video breaks down the stakes behind India’s stance, from Western tariffs and China’s currency ambitions to the strategic consequences of rejecting Moscow’s plan. While Chinese Premier Li Qiang stood in for Xi Jinping at the Brazil BRICS Summit, India’s economic priorities seemed louder than any absence.
Is this diplomacy or a strategic pivot? Watch to understand why India may have said: No to BRICS currency, yes to economic autonomy.