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09-12-2024
Bureau Report
DOHA: External Affairs Minister S Jaishankar on Saturday reacted to President-elect Donald Trump’s threat to impose 100 per cent tariffs on BRICS nations, stating that India has “no interest” in weakening the US dollar.
Speaking at the Doha Forum on Saturday, Jaishankar reflected on the positive relationship India had with the first Trump administration, highlighting the restart of the QUAD under Trump’s presidency.
“We had a good relationship, a very solid relationship with the first Trump administration, yes there were some issues mostly trade related issues, but there were a whole lot of issues on which Trump was very international, and I remind people that it was actually under Trump that the QUAD was restarted,” he said.
He also noted the personal connection between Prime Minister Narendra Modi and President-elect Trump, which has contributed to the strong bilateral ties between the two countries.
“There a personal relation between PM Modi and Trump…Where the BRICS remarks was concerned. We’ve always said that India has never been for de-dollarization, right now there is no proposal to have a BRICS currency. The BRICS do discuss financial translations…US is our largest trade partner, we have no interest in weakening the dollar at all,” he added.
Jaishankar was addressing the 22nd edition of the Doha Forum panel on ‘Conflict Resolution in a New Era’ where Qatar Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thand Norway Foreign Minister, Espen Barth Eide were also present.
EAM Jaishankar is on an official visit to Qatar and Bahrain from December 6-9.
In Bahrain, he will co-chair the 4th India-Bahrain High Joint Commission (HJC) with Foreign Minister of Bahrain; Abdullatif bin Rashid Al Zayani. EAM will also participate in the 20th edition of IISS Manama Dialogue in Bahrain on December 8.
Earlier on September 9, EAM Jaishankar held a meeting with Qatar’s Prime Minister Mohammed bin Abdulrahman Al Thani in Saudi Arabia. The two leaders discussed taking forward bilateral ties.
Sharing details regarding his meeting with Qatar PM, Jaishankar stated, “Began the day with a good meeting with PM & FM of Qatar @MBA_AlThani_. Discussed taking India-Qatar bilateral ties forward. Appreciated his insights and assessments on regional developments.”
The two leaders had held talks on strengthening bilateral ties across various sectors and addressing key regional challenges.
Jaishankar conveyed warm greetings and wishes from Prime Minister Narendra Modi to Qatar Amir Amir, Tamim bin Hamad Al Thani, and Qatar PM.
Further, he underscored the robust nature of the India-Qatar relationship, emphasising cooperation in political, trade, investment, energy, technology, culture, and people-to-people exchanges.
BRICS is an acronym that started as BRIC in 2001, coined by Jim O’Neill (a Goldman Sachs economist) for Brazil, China, India, and Russia. Later in 2010, South Africa was added to become BRICS. Goldman Sachs claimed that the global economy will be dominated by the four BRIC economies by 2050. The main reason for such a claim was that China, India, Brazil, Russia, and South Africa were ranked among the world’s fastest-growing and emerging market economies for years. The main comparative advantage of this group is their low labor costs, favorable demographics, and abundant natural resources at the time of the global commodities boom.
