New Delhi: In a significant address at London’s Chatham House, External Affairs Minister S Jaishankar underscored India’s strategic push to globalize the Indian Rupee, while emphasizing that there are no plans to supplant the US dollar as the world’s primary reserve currency. This stance reflects India’s commitment to economic stability and its evolving role in global trade.
Jaishankar highlighted India’s efforts to promote the rupee internationally, driven by the country’s expanding trade and investment sectors. He noted that as more Indians travel and live abroad, the use of the rupee is expected to increase. India has established mechanisms for cashless payments and trade settlements with several countries, particularly those facing a shortage of hard currency like the US dollar.
“We are clearly promoting the internationalization of the rupee because we are actively globalizing India,” Jaishankar explained. He also clarified that India has no issue with the dollar and values its relations with the US, stating, “We have no interest in undermining the dollar.”
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