In August, External Affairs Minister S Jaishankar expressed scepticism about the need for a Brics currency and said it was highly likely that the alliance members would continue to be involved in global trading by using their own currencies.

Donald Trump’s return to the White House has prompted concerns of a renewed global trade conflict, with the US president-elect threatening 100% tariffs on BRICS countries, including India. These tariffs,

The world could see a second wave of tariff war as Donald Trump takes office this January. The US President-elect has threatened a 100% tariff on the BRICS countries, including India, if they undercut the US dollar or replace it with another currency for international transactions.