22 March, New Delhi:
India has strongly defended its role within BRICS after threats from US President Donald Trump to impose a 100% tariff on imports from the group. External Affairs Minister Dr. S. Jaishankar maintained that BRICS is committed to multipolarity and global cooperation even with the United States’ economic challenges.
Jaishankar during the parliament session, dismissed claims that BRICS was “disintegrating” after Trump’s threats, asserting that the group continues to expand, evolve, and address global problems. He highlighted the involvement of BRICS in major international issues including the peaceful settlement of Afghanistan, the Israel-Palestine conflict, the Sudan and Haiti crisis, and the Ukraine and Syrian invasions.
Jaishankar reaffirmed India’s position as a founding member of BRICS and emphasized that the bloc is focused on inclusive global governance. He reiterated that India is not part of initiatives within BRICS to undermine the U.S. dollar or introduce a common BRICS currency. This has been conveyed to American officials during bilateral talks “Undermining the U.S. currency is not part of India’s economic or strategic policy,” he stated.
The External Affairs Minister also highlighted that as BRICS includes countries with varying development and economic interests, their views on contemporary matters may vary. However, their collective goal remains multilateral coordination and collaboration for a more balanced global system. The ongoing expansion of BRICS membership, with new entrants such as Egypt, Ethiopia, Indonesia, Iran, and the UAE, indicates the bloc’s continued relevance and influence, he added.
Trump’s Warning to BRICS Nations
Trump has issued stark warnings to BRICS nations, demanding a commitment that they will neither introduce a new currency nor support alternatives to the U.S. dollar. Taking to his Truth Social platform, Trump declared, “There is no chance that BRICS will replace the U.S. Dollar in international trade, or anywhere else, and any country that tries should say hello to tariffs, and goodbye to America!”
The former U.S. President has consistently criticized BRICS, even going so far as to claim that the bloc is “dead.” He asserted that his tariff threats effectively halted any move towards dollar alternatives, saying, “BRICS is dead since I mentioned that… The day they even think about replacing the dollar, they will come back begging.”
Despite Trump’s warnings, BRICS leaders, particularly Russian President Vladimir Putin, have continued to advocate for reducing dependence on the dollar. In June 2024, BRICS foreign ministers met in Russia’s Nizhny Novgorod and reaffirmed their commitment to expanding trade in national currencies and strengthening financial cooperation.
As global financial landscapes evolve, India appears to be maintaining a balanced approach, ensuring its commitments to both BRICS and strategic relations with the United States. Keep reading questiqa.in
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