- Web Desk
- Jan 08, 2026
New Delhi says de-dollarization isn’t part of Indian agenda
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NEW DELHI: In an apparent move to please the Trump administration, India said on Thursday that de-dollarisation wasn’t part of its financial agenda, after the latest comments passed by US Treasury Secretary Scott Bessent.
At the same time, it also hoped relations with the United States would move forward based on mutual respect and shared interests.
Earlier on Tuesday, Scott said several large trade agreements were still waiting to be completed, including with Switzerland and India, but the South Asian country had been “a bit recalcitrant” in talks with the United States.
READY TO BUY US MILITARY EQUIPMENT
New Delhi is committed to the substantive agenda between the two countries and purchases of military equipment from Washington were making progress as per established procedures, the Indian foreign external affairs ministry spokesperson told a weekly media briefing.
It is in complete contrast to what Reuters previously, quoting to three Indian officials familiar, that New Delhi had put on hold its plans to procure new US weapons and aircraft.
Read more: India pauses US arms procurement amid Trump tariffs saga
BRICS OR NO BRICS?
US President Donald Trump is doubling down against BRICS, warning that their push to undermine the US dollar’s dominance threatens America’s economic supremacy.
Meanwhile, the latest official position explained by Ministry of External Affairs Spokesperson Randhir Jaiswal places India in an odd position when it comes to BRICS where countries like Brazil are openly talking challenging the dominance of US dollar.
Read more: Xi sees China, Brazil as ‘self-reliance’ model for Global South
With US President Donald Trump imposing 50 per cent tariffs on Brazil for its defiance, the World Trade Organisation (WTO) earlier this week said Brazil has initiated dispute consultations over measures imposed by Washington, saying these are are inconsistent with various trade provisions.
The move came after President Luiz Inacio Lula da Silva his country would use all available resources, including the Word Trade Organization (WTO).
Lula told an event in Brasilia that he would not call Trump because his counterpart did not want to talk, and referred to the day the tariffs were imposed as “the most regrettable” in the two countries’ relationship.
Read more: Brazil ready to ride out 50pc Trump tariffs, as Lula remains defiant
Given that Indian Prime Minister Narendra Modi is feeling isolated at the world stage and unable to determine how to move ahead with his “Shining India” and “Make in India” slogans, he desperate to “reinvigorate” his friendship with Trump.
But how to keep the “strongman” persona intact is a serious challenge in achieving the goal.
Read more: India eyes US trade talks, but Modi supporters want ‘boycott US’
Meanwhile, one thing clear now: India will neither be a voice of the Global South nor a globally-recognised manufacturing hub no matter what Modi do or achieve in the comings days, weeks and months.
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