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BRICS countries, including India, Russia, and China, have no intention of undermining the U.S. dollar, stated Indian External Affairs Minister Subrahmanyam Jaishankar during an event in Doha. His comments followed U.S. President-elect Donald Trump's warning to BRICS nations against creating or supporting an alternative currency to avoid potential tariffs.
India is advocating for increased trade with Russia to be conducted in rupees, as bilateral commerce has surged fivefold. External Affairs Minister Subrahmanyam Jaishankar emphasized the significance of mutual settlement in national currencies during the India-Russia Business Forum in Mumbai, attended by Russia’s First Deputy Prime Minister Denis Manturov.
Hyundai's Indian subsidiary debuted on the stock market with a 7% drop, now 5% below its IPO price, despite raising $3.3 billion by offloading a 17.5% stake. Analysts cite concerns over the capital's use, higher royalty fees, and minimal upside pricing, while some see long-term growth potential in India's evolving automotive market.
Subrahmanyam Jaishankar
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