EAM Jaishankar: Trump's Presidency Benefits India; Strengthening Global Financial System is Essential

London, March 6 (NationPress) External Affairs Minister (EAM) S. Jaishankar remarked that Donald Trump's presidency has proven beneficial for India in various aspects, emphasizing that collaborating with the US to enhance the global financial and economic framework should be India's top priority.

When asked if Trump's ascent to the presidency was advantageous for India, he responded, “In many ways, I would say yes.”

EAM Jaishankar noted, “To be very honest with you, we have never had any issues with American Presidents at least in recent times” when reflecting on the current political relationship.

He added, “There's no baggage, which we carry or burden that the relationship carries” during his discussion on India's growing influence and position at Chatham House, a respected British think-tank.

Regarding the role of the US dollar, a topic of contention for Trump, EAM Jaishankar stated, “We have no issue with the dollar, and our relations with the US are at their best. We have no interest in undermining the dollar.”

He further asserted, “We do believe today that working with the US and strengthening the international financial system, economic system is actually, what should be the priority.”

Trump has aggressively opposed any attempts to substitute the dollar with a BRICS currency and has warned of severe repercussions for the 10-member group's economy if such actions were taken.

EAM Jaishankar clarified that India has no plans to replace the dollar, recognizing it as the reserve currency and a cornerstone of global economic stability.

“I don't think there's a unified BRICS position on” having its own currency, he stated.

He continued, “BRICS members, -- and now that we have more members -- have very diverse positions on this matter.”

Simultaneously, EAM Jaishankar emphasized, “We are clearly promoting the internationalisation of the rupee because we are actively globalising India.”

With more Indians travelling and residing abroad, alongside the expansion of India's trade and investment sectors, he noted that “the use of the rupee will also grow.”

New mechanisms for cashless transactions between India and other nations have been initiated. New Delhi has backed direct trade settlements, especially with countries experiencing a hard currency shortage, predominantly dollars, he mentioned.

When asked about Trump's first 41 days in office, he expressed that he was not taken aback by the occurrences.

Trump has launched a wave of actions, both internationally and domestically, that have astonished numerous leaders and caught some off guard, but EAM Jaishankar refrained from discussing specifics.

“I'm a little surprised that people are surprised,” he remarked.

“Much of what we have seen and heard over the last few weeks was to be expected” when “political forces or political leaders” have cultivated an agenda over time and are deeply committed to it.

Trump welcomed Prime Minister Narendra Modi as one of the initial leaders to visit him at the White House, and EAM Jaishankar attended the President's inauguration.

During Trump's first term, PM Modi and President Trump reaffirmed their strong relationship and agreed to bolster strategic ties, with the US providing high-level jets.

Notably, PM Modi consented to the repatriation of illegal migrants, a key concern for Trump, resulting in three planes returning some of them to India.

While EAM Jaishankar addressed the “relationship politically,” on the trade front, India and the US are working to resolve tariff disputes.

Trump has labeled India as a “tariff king”, imposing some of the highest rates globally, and has threatened reciprocal tariffs.

Both nations are striving to reach an agreement, and India has already announced plans to reduce certain tariffs on US imports.