India’s Big Push: Turning the Rupee Into a Global Currency Amid Trump’s Tariff Shock

Amid Donald Trump’s fresh tariff surge on Indian goods, New Delhi is quietly making its boldest financial move yet — turning the rupee into a global trade currency. From new RBI exchange rate mechanisms and Vostro accounts abroad, to rupee settlement clauses in future trade pacts — India’s bet is clear: reduce dollar dependence, boost economic sovereignty, and give the rupee global weight. But with the rupee still Asia’s worst performer this year, the road ahead won’t be easy.