Think tank advises India to prioritize local currency trade amid BRICS dollar discussions

A think tank, GTRI, has responded to US President-elect Donald Trump's warning of 100% tariffs on BRICS countries if they replace the US dollar. GTRI calls this threat unrealistic and suggests India should focus on local currency trading instead. The BRICS group, which includes India, South Africa, Iran, Egypt, Ethiopia, and the UAE, is exploring alternatives to the US dollar. GTRI emphasizes that India should enhance its financial infrastructure rather than fully adopt a BRICS currency. GTRI argues that the US dollar's dominance in global trade is being challenged. They believe that the US's actions have prompted countries to seek alternatives, and imposing high tariffs could ultimately harm American consumers and disrupt global trade.