Chairman of BRICS Chamber of Commerce Says US Began De-dollarisation by Moving into Crypto

Source: ANI (Asian News International) | Original Published At: 2026-09-10 17:14:12 UTC

Key Points

• Sameep Shastri, Chairman of the BRICS Chamber of Commerce and Industry, supported de-dollarisation and said local currency and digital transactions are needed for a multipolar economic system.
• Shastri argued that international trade conducted in US dollars imposes multiple costs on businesses and said the United States had already started de-dollarisation by moving into crypto.
• He highlighted digital platforms and UPI as tools that could support large-scale digital transactions for developing countries.
• Shastri said India should strengthen exports to BRICS economies, noting that India runs a trade deficit with most BRICS members because of high energy imports.
• He said India's manufacturing progress and improved product standards could help support exports.
• The article notes that India is negotiating a free trade agreement with the Eurasian Economic Union and has set a bilateral trade target with Russia above USD 100 billion by 2030.
• During India's BRICS chairship, member countries have discussed expanding trade and building more resilient and diversified supply chains.