At IT-BT Round Table 2025, Union Commerce’s Minister Piusugoir has revealed that India has firmly refused BRICS currency proposals.
“We are recorded. We do not support brics currencies. Imagine that we have a currency shared with China. There is no plan. It is impossible to think about BRICS currency.” Has closed speculation about the financial units of the entire block.
This stance consists of a more broad strategy in BRICS and balances involvement with global South while protecting economic relationships with the United States.
S. Foreign Minister of Jaishankar had previously reflected this feeling, but India believes that there is no merit in replacing US dollars, but supported localized currency settlements as Russia like Brics. I confirmed that I was. As Indonesia participates as the tenth member, when BRICS expands, India is carefully stepped on and guarantees that global positioning is stable as geopolitical and economic tensions are growing.
The approach to India’s BRICS is still measured, practical, and uses platforms to amplify the world’s southern profits while maintaining western partnerships like quads.
BRICS has witnessed a major change, and Indonesia has officially participated as the tenth member in January, and Nigeria has secured a partnership role. Malaysia, Thailand, and Vietnam are also interested, indicating that the ASEAN expansion in BRICS. Under Brazil’s 2025 presidential position, the block focuses on climate finance, AI cooperation, and sustainable governance, along with continuous consultation on alternative payment systems. But the main division lasts. Although Russia and China are promoting to detach, they pay attention to the economic fallouts of India and Brazil away from US financial systems.
With more complexity, Donald Trump warns BRICS members for new currency support, threatening 100 % of the dollar to replace the dollar. Trump’s stance, which calls BRICS “hostile”, has presented a major issue for India, considering the annual export of $ 127 billion. As a result, traveling from the dollar is a dangerous economic decision.
With Indonesian membership introduces a new dynamics, Brics faces an issue when balancing the anti -west rhetoric and actual economic cooperation. India is focusing on using blocks for strategic benefits, without causing US retaliation. Brazil will be in charge of BRICS in 2025, so the future of the block depends on whether or not the internal opinion can be adjusted while navigating global economic pressure.
