NEW DELHI: India on Friday reaffirmed that de-dollarisation is neither its policy nor strategy, after President Donald Trump again warned BRICS countries against replacing the US dollar as a reserve currency, reiterating a threat of 100% tariffs he had made earlier.“On de-dollarisation, the External Affairs Minister has made it clear that we don’t have any policy or strategy in this regard,” External Affairs Ministry spokesperson Randhir Jaiswal said.The BRICS group of countries including India, China and Russia account for 40 per cent of global population and an estimated one-third of global gross domestic product (GDP).Although the BRICS countries have explored the idea of a BRICS currency, it remains far from realisation, as unlike other groupings such as the European Union, they lack a common market or unified trade policy. In the last summit of the grouping, BRICS countries, however, had stressed on the need for trade in local currencies and smooth cross-border payments to strengthen their economic cooperation.But India has insulated itself from the talks of de-dollarisation. External Affairs Minister S Jaishankar had earlier said that moving away from the US dollar is not part of New Delhi’s economic policy.
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