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VIDEO INTRODUCTION:
On 11th of July 2022, the Reserve Bank of India a made very very bold announcement whereby domestic traders could settle their imports and exports with Indian Rupees!! This move of taking the INR global is a very very big deal because it said to help India do trade directly with Russia without depending on the American banks!! On one side, while this could push us into new horizons of world trade with Russia,Iran, Venezuela and Sri Lanka, on the other, this move could actually destroy our relations both with the US and Europe! So this is not a major move from the economic standpoint but from the geopolitical stand point!!
So the questions is ?
What is RBI’s strategy behind bringing this system?
How will this help us trade with Russia and Iran inspite of the western opposition?
How will this help the economy of India?
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