India's Silent De-Dollarisation Push Gains Momentum As Indonesia Expands Local Currency Trade

India and Indonesia have quietly taken another step towards reducing dependence on the US dollar. Under the RBI-Bank Indonesia Local Currency Settlement framework, businesses can now settle trade directly in rupees and rupiah, cutting transaction costs, reducing exchange-rate risks and strengthening bilateral commerce. Is this the beginning of India's de-dollarisation strategy? Not exactly. Unlike Russia or China, India is taking a cautious and pragmatic approach by promoting local currency trade where it makes economic sense while maintaining strong strategic ties with the United States. This report explains how the agreement works, why Indonesia's local currency trade has surged, what role digital currencies could play, how India's strategy differs from BRICS rhetoric, and whether the dollar's dominance is really under threat. #india #indonesia #dedollarisation #dollar #rupee #rupiah #rbi #brics #modi #currency #worldnews #economy #timesaxis #toi AXIS is where the world is explained through India’s lens. For decades, global narratives have been shaped by Western media... told through Washington, London or Beijing. But as India rises as a major economic, military and diplomatic power, why should others define the world for us? Why shouldn’t India shape its own voice, own perspective, and own narrative? That’s where AXIS comes in. We decode global power shifts, wars and conflicts, the India-China rivalry, Pakistan, West Asia, oil shocks, trade battles and neighbourhood politics - with one key question: What does this mean for India and for you? As India rises, so should its share of voice! Subscribe To AXIS — The World Through INDIA'S LENS. #India #Geopolitics #China #Pakistan #Bangladesh #WorldNews #Defence #IndianArmy #Indian Navy #IAF #TimesAXIS #TOI