ALSO READRemain engaged with US for BTA, clarity on Delhi talks yet to emerge: Sunil Barthwal
As the United States imposes an additional 50 per cent tariff on India, citing the import of Russian oil, the high-level meeting between Indian and Russian trade officials becomes more significant.
BRICS angle
After the recent trade disputes with the United States, India is deepening ties to its BRICS partners. As per the Reuters report, the Indian government has taken a series of steps in recent weeks, including delegation visits, to create closer economic ties with Russia, China, and Brazil.
ALSO READIndia-US trade deal could conclude by Sep- Oct: Commerce Secretary
While India has previously also stated that the BRICS members are only discussing cross-border payment and de-dollarisation is not on their agenda, the United States has repeatedly objected to BRICS’ payment practices.
Trump’s warning
In January, the US President Donald Trump openly warned the BRICS nations for attempting to replace the dollar. In a Truth Social post, Trump said, “We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar, or they will face 100 % Tariffs and should expect to say goodbye to selling into the wonderful U.S. Economy”