India Clarifies Stance on Dollar Trade Amid Global De-dollarisation Talks

India has never actively targeted the dollar, according to External Affairs Minister S Jaishankar. He clarified that American policies often make dollar-trade challenging for India with certain partners. Despite discussions around de-dollarisation, India aims to pursue trade solutions without malintent towards the dollar.

India has never actively targeted the dollar, stated External Affairs Minister S Jaishankar on Tuesday. He clarified that the economic, political, or strategic policies do not aim to undermine the dollar.

Speaking at the Carnegie Endowment for International Peace, Jaishankar noted that certain American policies complicate dollar-trade for India with some partners. He addressed the discussions on de-dollarisation, emphasizing that India’s interest lies in facilitating trade through viable solutions.

Jaishankar highlighted that some trade partners face difficulties in dollar transactions, creating the need for alternative arrangements. These adjustments are not intended to harm the dollar, but are essential for maintaining business relationships amidst challenging policies.