Future

Gold

<div class="watcher-guru">
 <p>The BRICS alliance needs India, but India does not need the BRICS bloc. India is one of the fastest-growing economies and boasts of a robust job infrastructure. The nations’s GDP has already surpassed $3.75 trillion in 2023. Goldman Sachs predicts that India could beat the U.S. GDP by 2075, touching $52.5 trillion in the next five decades. The U.S. GDP could be $51.5 trillion in the next 50 years, according to the leading bank. The BRICS group of developing countries, including India, is advancing to dethrone the US dollar from its global reserve currency status.</p>
 <p><strong>Also Read: South African President Makes Huge Announcement on <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Expansion</strong></p>
 <p>While BRICS members China and Russia want complete de-dollarization, the other countries are playing it safe. South Africa, Brazil, and India are on the sidelines and are worried about the Chinese power prowl. The members believe that China and Russia are using BRICS as a stepping stone to advance their de-dollarization motives. Read here to know how many sectors in the US will be affected if BRICS stops using the dollar.</p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-india-could-play-spoilsport-amp-not-support-brics-idea-of-dethroning-us-dollar">India Could Play Spoilsport &amp; Not Support BRICS Idea of Dethroning US Dollar</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="689" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="India brics Modi Rupee INR flags G20" class="wp-image-105301 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 300w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 768w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 380w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 550w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 800w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp.webp 1040w" data-srcset-img="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 1024w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 300w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 768w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 380w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 550w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 800w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 1040w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="689" src="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp" alt="India brics Modi Rupee INR flags G20" class="wp-image-105301" srcset="https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 1024w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 300w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 768w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 380w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 550w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 800w, https://cdn.thebittimes.com/images/2023/10/07/634f491493bc2dfb93726735537affaa.webp 1040w" sizes="(max-width: 1024px) 100vw, 1024px">
  </noscript>
  <figcaption class="wp-element-caption">
   Source: Twitter / MEAgov
  </figcaption>
 </figure>
 <p>India needs to maintain its ties with America, as the country is the first to provide IT back-end support to the U.S. In fact, millions of jobs are at stake if India ends its dependence on the U.S. dollar. Such a move could trigger an economic turbulence. Furthermore, India has billions worth of trade deals with the U.S., and will not risk the agreements for BRICS’ sake.</p>
 <p><strong>Also Read: The U.S. Dollar Overtakes All BRICS Currencies &amp; Gold</strong></p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p><a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a> and the U.S. share a healthy relationship with each other. Both countries boost each other’s economies in different ways. Therefore, <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a> stepping outside the line and following <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> efforts of de-dollarization could prove to be detrimental to its economy.</p>
 <p>Additionally, India and China are at loggerheads and the border and trade disputes are yet to be settled diplomatically. Jim O’Neill, former Goldman Sachs economist, who coined the BRIC acronym, said that India and China rarely agree on matters.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: Former Treasury Secretary Predicts Future of the US Dollar</strong></p>
 <p><strong>“You can’t even get <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a> and China in the same room. So the idea that they would commit to a shared currency and abandon their own domestic monetary policy, it’s just kind of crazy,”</strong> he said to Business Insider.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>India</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-india-could-reject-the-forces-that-look-to-topple-us-dollar-tbt65497.html">https://thebittimes.com/brics-india-could-reject-the-forces-that-look-to-topple-us-dollar-tbt65497.html</a></p>

BRICS: India Could Reject the Forces That Look To Topple US Dollar

Table of Contents

TheBitTimes

Other articles published on Oct 7, 2023

Taiwan Siapkan Aturan Crypto Akhir Tahun Ini

Good news from Stars Arena: Platform Manages to Raise Funds to Cover the Shortfall of Stolen Assets

Bulls Take Control of Helium (HNT) – Price Outlook Now Favorable According to altFINS

Yuga Labs Cuts Workforce: Details

Bitcoin Price Forecast Next Week: Why BTC May Not Tap The $30K Level

Elon Musk Faces Scrutiny Over Suspension of XRP Account Amidst SEC Investigation

Join our free newsletter for daily crypto updates!