India’s Pursuit of Reserve Currency Status
While the US dollar will likely stay dominant, a gradual shift towards other currencies, possibly including the INR, could occur in the long run.
- Sneha M
- 2023 |
- Issue Brief
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While the US dollar will likely stay dominant, a gradual shift towards other currencies, possibly including the INR, could occur in the long run.
The ambitious policy measures taken by the Ranil Wickremasinghe government to revive the economy have yielded some positive outcomes though concerns remain over their implementation.
With India and Bangladesh agreeing to settle the payments for their international trade partly in Indian rupee, it can reduce pressure on Bangladeshi dollar reserves.
The Latin American countries of Argentina, Bolivia and Chile have emerged as the lithium bank to fuel green transition.
With increasing North Korean nuclear and missile threats, and Chinese nuclear force modernisation, the prospects of indigenous nuclear weapons acquisition by Japan and South Korea cannot be ruled out.
UCAVs can impose a major decision dilemma on the adversary and act as a part of a combined arms offensive in the air, in their role as ‘loyal wingman’ for manned fighter jets.
India needs to adopt a whole-of-nation approach, involving industry, academia, and think tanks, to build a comprehensive institutional base on Arctic issues.
India’s participation in mini-lateral frameworks together with the US and its West Asian allies has been a transformative development in its West Asia policy.
Indonesia can emulate best practices from neighbouring countries like Malaysia vis-à-vis deradicalisation programmes to further reduce recidivism rates.
Japan’s proposal to host a NATO liaison office in Tokyo is facing objections from NATO members like France, who view it as a distraction from the alliance’s core task of ensuring security in Europe.



