India not looking for alternative currency to dollar, says CEA

India has no plans to pursue an alternative currency to the US dollar. This was stated by Chief Economic Advisor V Anantha Nageswaran on Wednesday.

Responding to queries about whether India was exploring options to diversify away from the US dollar in international trade, Nageswaran categorically dismissed the notion, saying, “No, certainly not. India is not part of any such initiative.”

The statement comes amid growing global discussions about de-dollarisation, with some nations exploring alternatives to reduce reliance on the US dollar in international transactions.

Speculation has been rife about whether India, a key player in global trade and a member of the BRICS group, might support efforts to establish an alternative currency or payment system.