The Economic Times

BRICS chief backs de-dollarisation, says local currencies are the way forward

BRICS Chamber Chairman Sameep Shastri supports de-dollarisation for a multipolar economic system. He believes local currency trade and digital transactions offer developing nations a greater voice. Businesses face multiple costs when conducting international trade through the US dollar. India aims to strengthen exports to BRICS economies while managing energy import deficits. The nation is also pursuing trade agreements and increasing bilateral trade with Russia.