India opposes BRICS currency proposal; no support for any such scheme, says Piyush Goyal

[ety]

As if you had a choice. You can talk big but if you ever try even making yuan a dollar dominant like currency, the appreciation will kill your economy. You know why? Because american companies will stop manufacturing in china due to increased costs.

That's what you Indians are saying all these years. China become a manufacturing powerhouse because of its cheap labor and land. Then why your India and many developing countries never develop manufacturing and export industries ? There are lots more factors involved besides just using the currency card in developing one's economy. As matter of fact, RMB unlike your Rupee that is worthless has appreciated more than 10% against the dollar in the last few months. What can your Indian brains understand Chinese economy.

 

[peacemaker99]

That's what you Indians are saying all these years. China become a manufacturing powerhouse because of its cheap labor and land. Then why your India and many developing countries never develop manufacturing and export industries ? There are lots more factors involved besides just using the currency card in developing one's economy. As matter of fact, RMB unlike your Rupee that is worthless has appreciated more than 10% against the dollar in the last few months. What can your Indian brains understand Chinese economy.

Because we didnt have cheap logistics and power.

I have bought chinese products. I dont have money. Ergo poor people buy chinese profucts.

Know thyself

 

[ety]

Because we didnt have cheap logistics and power.

I have bought chinese products. I dont have money. Ergo poor people buy chinese profucts.

Know thyself

Your poor Indians can only afford low end Chinese goods, of course. No Chinese is asking you Indians to buy Chinese products as crazy, so stop being arrogant as if you fools are superiors and Chinese are begging you to buy. You people can make cow dungs and start buying them instead or buy products from other countries, Chinese don't give a shit care.

 

[peacemaker99]

Your poor Indians can only afford low end Chinese goods, of course. No Chinese is asking you Indians to buy Chinese products as crazy, so stop being stupid and arrogant. You people can make cow dungs and start buying them instead or buy products from other countries, Chinese don't give a shit care.

Of course poor people can afford only chesp chinese stuff. If i could boy iphone, why would i buy xiaomi. i vould buy tesla, why would i buy byd?

India and china are poor countties.

 

[ety]

Of course poor people can afford only chesp chinese stuff. If i could boy iphone, why would i buy xiaomi. i vould buy tesla, why would i buy byd?

India and china are poor countties.

Yeah, keep mindlessly worshipping your white master Yanks' things, good for you people. That's why your country is hopeless.

 

[retaxis]

Yeah, keep mindlessly worshipping your white master Yanks' things, good for you people. That's why your country is hopeless.

Lol this guy does not know even tesla uses byd batteries lol because china is far more advanced. A huawei triple fold phone cost 3x more than a flagship model iPhone.

Its poor indians only buying the cheapest possible product to sell to their own people because they know india gdp per capita is sub Saharan level while china gdp per capita is reaching high income level.

China doesn't even sell the good stuff to india because we have restricted access to anything advanced to india. That's why indians remain one of the poorest, dirtiest and most polluted countries in the world with no hope of improvement. Meanwhile china is dominating electric vehicles, clean energy, artificial intelligence, robotics etc.

 

[peacemaker99]

Yeah, keep mindlessly worshipping your white master Yanks' things, good for you people. That's why your country is hopeless.

Says the dude who moved to canada to the guy who stayed back in infia.

 

[retaxis]

China doesn't sell anything advanced to India lol. Look at the sectors that China dominates. Don't ever put India in the same sentence as China.

According to the latest data from the Australian Strategic Policy Institute (ASPI), China now leads the world in high-impact research for 69 out of 74 critical technologies, leaving the United States ahead in only five remaining fields. [1]
This dataset marks a massive structural shift in global technological and military power over the last two decades. [1, 2]

Key Findings from ASPI's Critical Technology Tracker

• Unprecedented Dominance: China maintains the top global spot in roughly 93% of all strategically vital technologies tracked, spanning artificial intelligence, advanced materials, biotechnology, energy, and defense. [1, 2, 3, 4, 5]
• Monopoly Risk: Out of the 74 technologies, 41 are classified as having a "high technology monopoly risk" favoring China. This means research expertise is so heavily concentrated within Chinese institutions that other nations face immense future technology dependencies and supply chain vulnerabilities. [1, 2, 3]
• Recent Breakthroughs: In the most recent 2026 updates, China extended its lead over the US by overtaking it in fields like natural language processing and genetic engineering, while upgrading sectors like AI hardware accelerators and biological manufacturing to high monopoly risk. [1, 2]
• Institutional Concentration: The Chinese Academy of Sciences stands as an unparalleled global leader, ranking as the number-one research institution in 30 different critical technologies. [1]

 

[retaxis]

China doesn't sell anything advanced to India lol. Look at the sectors that China dominates. Don't ever put India in the same sentence as China.

According to the latest data from the Australian Strategic Policy Institute (ASPI), China now leads the world in high-impact research for 69 out of 74 critical technologies, leaving the United States ahead in only five remaining fields. [1]
This dataset marks a massive structural shift in global technological and military power over the last two decades. [1, 2]

Key Findings from ASPI's Critical Technology Tracker

• Unprecedented Dominance: China maintains the top global spot in roughly 93% of all strategically vital technologies tracked, spanning artificial intelligence, advanced materials, biotechnology, energy, and defense. [1, 2, 3, 4, 5]
• Monopoly Risk: Out of the 74 technologies, 41 are classified as having a "high technology monopoly risk" favoring China. This means research expertise is so heavily concentrated within Chinese institutions that other nations face immense future technology dependencies and supply chain vulnerabilities. [1, 2, 3]
• Recent Breakthroughs: In the most recent 2026 updates, China extended its lead over the US by overtaking it in fields like natural language processing and genetic engineering, while upgrading sectors like AI hardware accelerators and biological manufacturing to high monopoly risk. [1, 2]
• Institutional Concentration: The Chinese Academy of Sciences stands as an unparalleled global leader, ranking as the number-one research institution in 30 different critical technologies. [1]

China is global leader in 93% of advanced technology. India is global leader in 0% of advanced technology. Its like china winning 40 gold medals at Olympics and india winning 0.

Comparing india with china is just retarded at this stage...

 

[peacemaker99]

China is global leader in 93% of advanced technology. India is global leader in 0% of advanced technology. Its like china winning 40 gold medals at Olympics and india winning 0.

Comparing india with china is just retarded at this stage...

Oh my god. Get off the horse man.

 

[ety]

China is global leader in 93% of advanced technology. India is global leader in 0% of advanced technology. Its like china winning 40 gold medals at Olympics and india winning 0.

Comparing india with china is just retarded at this stage...

But, they don't think so. They think the two countries are equal even in military and technology or worse China is inferior.

 

[retaxis]

But, they don't think so. They think the two countries are equal even in military and technology or worse China is inferior.

The more they think that, the less they can ever improve. Its basically self destructive behavior lol.

Can India afford huawei phones??

Google Search

Can India afford Luxury Chinese cars?

To view this content we will need your consent to set third party cookies.
For more detailed information, see our cookies page.

Accept third party cookies

The answer is obviously No. Indians can not afford 6k huawei phones or 100k chinese cars. China will also not sell India any advanced technology either so India remains the dumping ground for the cheapest chinese companies who want to make a quick buck.

 

[Cookie Monster]

NO one wants to make repeat the past mistake as same as Dollar.
so even if they will be agreed- it will be a common new currency.

Any FIAT currency that BRICS or any country(or group of countries) choose...WILL have the same problem as the USD...
...why? Bcuz it's not gold backed. If the chosen currency(any FIAT currency) can be spawned into existence(think magic)...to trade for actual goods(think reality)...
...then it creates the same issues as are happening with USD. Issues with trust...as to...
- How much of that currency is in circulation.
- How much is being printed?
- Is that process transparent?
- Who controls that decision of when to print and how much?
- Would other countries trust all of that above to accept this currency to settle transactions for actual real world goods?

The above are the things that USD faces...and will be faced by any FIAT currency that BRICS choose(whether a preexisting one like the Yuan or a new one that they mint together)...
...it all comes down to trust and if these countries lack the trust amongst themselves to use the currency of the second biggest economy then what makes u think they will have enough trust to mint a currency together?

Also aside from the above...one other major issue why countries like BRICS are looking into having a USD alternative to settle transactions and an alternative to SWIFT payment system is to have an alternative to US dominated payment system...bcuz otherwise it means that if US doesn't like u..it can choke u out economically.
...this is why a country like North Korea tries literally everything under the sun(legal or illegal) to get its hands on USD.
...and also keep in mind that USD suffers from that same questionable trust in some ways...the only reason it remains on top is bcuz US is and was the number one economy for a long time(especially when USD was established as such) and a superpower. Using that same reasoning..is why I think for BRICS, Yuan would be a good alternative to USD(bcuz literally the next big economy after US is China..that is also considered a major world power if not the world power).

 

[Pakistani Dragon]

No there isn't ur right but China is doing its own thing with CIPS

China's Cross-Border Interbank Payment System (CIPS) processed roughly ¥180.15 trillion ($25.55 trillion USD) across 8.44 million transactions in 2025, with transactional values climbing further in 2026 to average between $118 billion and $134 billion daily. [1, 2, 3]

Annual and Monthly Volumes

• • 2025 Total: Settled ¥180.15 trillion (~$25.55 trillion USD) via 8,441,897 transactions.
  • 2026 Peak (March): Average daily transaction values surged to roughly 920 billion yuan (~$134–$136 billion USD), with peak single-day volumes passing 1.22 trillion yuan (~$180 billion USD).
  • Mid-2026 Pace: June 2026 recorded 810,563 transactions settling ¥18.21 trillion ($2.67 trillion USD) for the single month. [1, 2, 3, 4]

Network and Global Reach

• • Participants: Connects over 1,800 total banking and financial institutions (around 210 direct and over 1,600 indirect participants).
  • Global Footprint: Reaches across more than 180 countries and regions worldwide.
  • Drivers: Accelerated adoption is tied to rising local-currency and renminbi-denominated energy/commodity trades, alongside structural shifts in cross-border infrastructure. [1, 2, 3, 4]

CIPS cannot be equated to SWIFT. They're two different things.

SWIFT (World) = "Tell the other bank what payment to make." It is currency-neutral and global. It supports transactions involving dollars, euros, pounds, yuan, yen, etc.

CIPS (China) = "Provide the infrastructure to clear and settle the RMB payment." It is strategically centred on the internationalisation of the RMB.

SWIFT→ messaging/instructions - (Worldwide)
CIPS→ RMB clearing & settlement - (China)

The only true alternatives to SWIFT are Russia's SPFS which is limited internationally and India's SFMS which is mainly for domestic use.

 

[Beijingwalker]

India and china are poor countties.

No, no, India is a rich country, China is a poor country. India and China are not in the same league as you suggested, China is far behind.