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“We don’t support any BRICS currency,” said India’s Union Commerce Minister Piyush Goyal in February. “I don’t think there’s any policy on our part to replace the US dollar,” said India’s External Affairs Minister S. Jaishankar in March. The move was intended to make the message reach China and Russia before the 17th summit in Rio de Janeiro on July 6 and 7. Several leaders in India have openly embraced the US dollar by distancing themselves from the formation of the BRICS currency. The development highlights the power struggles of the alliance where each member has different ideologies. There is no ‘one size fits all’ policy in the bloc as member nations look to undercut each other’s principles. Also Read: China Increases Quota for Foreign Investments Ahead of BRICS Summit Appreciate India Rejecting BRICS Currency, Says Start-up Founder & Financial Analyst Source: The Canadian Press / AP, Matias Delacroix Popular financial analyst...

In a move that is seeking to solidify its strength in the immensely popular technology sectors, Microsoft (MSFT) has announced yet another $3 billion AI and cloud computing investment. Indeed, the company’s investment will be made in India as it seeks to expand its capability in the two areas. Since the AI revolution started to dominate the stock market, Microsoft has firmly positioned itself as a developing leader. Over the last year, they have continued to invest in its ongoing development. Moreover, there is a growing feeling that those funds will begin to pay off in the company’s stock price throughout this year. Source: CNBC Also Read: Microsoft: MSFT $13B Investment Called ‘Best Money Ever Spent’ Microsoft Announces $3 Billion AI and Cloud Investment In India Over the last two years, generative AI’s surging popularity has been undeniable. The technology has been viewed as a massive part of the near future, and as such, its continued exploration and development is...

The SCO 2024 summit is showcasing India ’s growing di SCO ntent with China and its advancement of pushing the Chinese yuan for trade settlements and not the US dollar. The first dilemma came when India ’s Prime Minister Narendra Modi decided to skip attending the SCO 2024 summit in Kazakhstan. India ’s Foreign Minister S Jaishankar is at the event with a delegation. Also Read: China Advances De-Dollarization Agenda At the SCO 2024 Summit China is advancing the de-dollarization agenda at the two-day SCO 2024 summit. Its counterpart Russia is also puppeting China’s stance to use local currencies for trade and not the US dollar. Russia wants buyers for its crude oil to pay either in the Chinese yuan or Russian ruble. Both countries want to convince SCO members to trade in local currencies and sideline the US dollar. Also Read: 10 New Countries Might Join BRICS in 2024 India is unhappy with the push as the country is disinterested in using the Chinese yuan for pa...