India Spurns Common BRICS Currency in Favor of Digital Link

India has repeatedly expressed its reluctance to abandon the US dollar as its primary trade currency, despite pressure from major trading partners like Russia and China. The BRICS nations, which include India, have been exploring the idea of a common currency, but experts argue that this would require significant political and fiscal alignment among member countries.

According to sources, India is instead focusing on linking the central bank digital currencies (CBDCs) of BRICS members. This approach acknowledges the complexity and differences between the group's economies, rather than attempting a full-fledged currency union.