Impact of De-Dollarisation Move on Indian Rupee

Authors

  • Manjinder Kaur Guru Nanak Dev University College Chungh, Tarn Taran, Punjab,India- 143304

DOI:

https://doi.org/10.1956/jge.v20i3.739

Keywords:

De-Dollarisation, Geopolitical Relations, Geo-economic Conditions, Global Trade

Abstract

Since the Russia-Ukraine war, it seems to be an era ofeconomic uncertainties and tense geopolitical relations. Could India reap some benefits arising out of these tense geopolitical scenario and uncertain geo-economic conditions? Post the invasion of Ukraine by Russia, Russia and China entered into a strategic relationship which provides a window for a more multialigned India. India could really reap the benefits of this strategic relationship of Russia and China if it can utilise this as an opportunity and puts more emphasis on its economic growth and market-oriented reforms. This could be possible if India strives for driving service based exports besides extending the manufacturing sector and gaining a pivotal role on the economic front through major chunk of global trade. India can utilise this strategic alliance of Russia and China as an opportunity especially by strengthening its economic power by focussing on service based exports besides expansionary move in the manufacturing sector. India could really gain out of these opportunities since lot many events are occurring globally which are really aiding India. Recent complex notifications as being given by the Ministry of Commerce and Industry, emphasised a few class of exporters and importers to execute trade transactions in the India Rupee. It is really a turning point amidst latest phenomenon of global trade promoting globalisation in almost every sphere of trade with a great hue and cry. These bilateral trade orders really made the citizens nostalgic about EXIM policy in the past before the globalisation move. But how this time these notifications deviate from the times when India used to have a closed economic system. At that time the dollar was king, imports were strictly regulated by tariffs, foreign exchange reserves were limited and above all these recent measures of foreign trade in India in Indian Rupee pose an important question whether this is a move towards de-dollarisation and if it provides a window for Indian Rupee to rise.

Author Biography

Manjinder Kaur, Guru Nanak Dev University College Chungh, Tarn Taran, Punjab,India- 143304

Dr. Manjinder Kaur (manjindergndu@gmail.com) is Assistant Professor in Post Graduate department of Guru Nanak Dev University College, Chungh (Tarn Taran). She is a post graduate and doctorate in the area of impact of foreign institutional investment on Indian capital market. Her research and teaching areas of interest are international finance, portfolio management, stock market efficiency and foreign institutional investors’ investment. She has 15 years of teaching experience and specializes in the area of stock market efficiency and foreign investment. To date, she has 8 publications in various journals of national and international repute.

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Published

01.10.2024

How to Cite

Kaur, M. (2024) “Impact of De-Dollarisation Move on Indian Rupee”, Journal of Global Economy, 20(3), pp. 161–170. doi: 10.1956/jge.v20i3.739.

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