Moreover, India’s tight capital controls, management of the rupee and, importantly, a smaller share of global exports run counter to aspirations of making it an international currency.
For this financial year, the rupee is down about 11% against the dollar, broadly in line with other major Asian currencies such as the offshore Chinese yuan and the Korean won.
During the week ended 29 May, RBI data showed foreign currency assets, a major component of the overall reserves, increased by $3.50 billion to $455.21 billion
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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