Analisis Kepentingan India Menolak Kebijakan De-Dolarisasi Dan Wacana Mata Uang Bersama BRICS

Abstract

India is one of the founding countries of BRICS, but India has a different perspective from the other founding members of BRICS, particularly China and Russia, regarding the de-dollarization policy and the discourse on implementing a BRICS common currency. This research analyzes India's interests in rejecting the de-dollarization policy and the discourse on the establishment of a BRICS common currency. The conceptual framework used is the concept of national interest. Using a qualitative approach and data collection techniques through literature study, this research finds that India's interest in rejecting the de-dollarization policy is due to India's strong dependence on the US Dollar. Meanwhile, India's interest in rejecting the BRICS common currency discourse is because India is concerned that this could disrupt its national economic sovereignty, threaten the stability of the rupee exchange rate, and worry about the dominance of China and Russia, who would benefit more from this new currency. Lastly, India's general rejection of de-dollarization policies and the idea of a BRICS common currency is closely tied to India's desire to maintain and enhance its long-established and continuously evolving bilateral relationship with the United States.