Brazil, Russia, India, China and South Africa have grouped BRICS groups despite tensions and recent provocations. US President Donald Trump has repeatedly threatened tariffs and criticised the group’s possible push for a common currency, but experts argue that these concerns do not signal the collapse of the multilateral alliance.
Trump’s rhetoric and the future of Brick
Trump has spoken out about the growing efforts of BRICS countries to challenge global domination of the US dollar. The possibility of BRICS adopting a common currency, often referred to as part of the “Dedollarization” agenda, has issued an alarm in Washington. Trump has gone as far as to threaten 100% tariffs on BRICS member states if he advances this plan.
These threats have attracted considerable attention, but the expert on strategic issues, Dr. Apalajita Pandi and a doctoral scholar at Jawaharlalneur University in New Delhi, said that although Trump’s rhetoric is fierce, literally, his statement It emphasizes that it is essential to understand the fundamental intent rather than taking the “It’s important not to accept Trump’s words at face value. His intentions are clear to prevent the original and other currencies from replacing the US dollar as the dominant currency of international trade,” Pandi said. The doctor explained.
BRICS CURRENCY: Other than the starter?
While the general BRICS currency was a point of discussion within the group, it is not an issue with extensive support among members. For example, as mentioned earlier by FinancialExpress.com, India, for example, is constantly expressing its intent on the idea of a BRICS currency, fearing potential confusion over its own economic benefits.
Furthermore, countries within the bloc are already engaged in considerable trade using bilateral relations with Chinese Yuan, particularly Chinese BRICS members. However, this does not indicate that BRICS is on the brink of collapse. “Even without a common currency, BRICS continues to serve its purpose as a platform for economic cooperation between developing countries,” Dr. Pandey pointed out.
BRICS remains a forum for Member States to discuss and defend their collective interests, just as it did in the early days, even if the currency debate collapses. The new Development Bank (NDB), established by BRICS to fund infrastructure projects in emerging markets, remains a critical part of the group’s ongoing work.
Why is Brick still important to India?
For India, BRICS is not only part of economic cooperation, but also a broader strategy to assert influence in the rapidly changing world order. While some Western analysts perceive BRICS as an anti-Western coalition, it is important to note that the group is fundamentally non-Western and is not necessarily hostile to the West.
“BRICS is about securing economic benefits for non-Western countries. India provides access to strategic markets, including Central Asia, the Middle East and Africa,” Indian foreign policy experts said. Masu. With India’s position as a leader in the Global South, BRICS serves as a valuable platform to challenge the domination of Western countries and institutions that historically shaped global economic and political systems.
Furthermore, the growing presence of countries like BRICS, such as Egypt, Iran and the United Arab Emirates, underscores the group’s role as key players in global trade and diplomacy. India sees BRICS as a valuable economic gateway, providing access to a diverse range of markets and opportunities. The expansion of BRICS, including new members like Saudi Arabia, is still in the process of participation, further strengthening the relevance of groupings.
Is Brick really on the verge of collapse?
While shared currencies may not be materialized anytime soon, BRICS remains an important platform for promoting the interests of member states, including India.
The key point is that BRICS is not about to collapse as the currency debate failed. In fact, it serves as an important pillar of India’s broader multilateral strategy. As the US focuses on bilateral agreements and moves away from the multilateral framework, BRICS and other United Nations are becoming increasingly important for India to secure its economic and strategic interests.
