The Reserve Bank of India's (RBI) latest step to ease international trade settlement in Rupees may look technical, but it carries significant geopolitical weight. By allowing Indian banks to open special Rupee Vostro accounts without prior approval, the RBI has made it easier for cross-border partners to trade in the local currency. At a time when Washington has chosen tariffs as a weapon, and US President Donald Trump has imposed 50% duties on Indian imports while threatening more if BRICS weakens the Dollar, New Delhi has quietly fired its salvo of financial resilience, not confrontation.

India's official line remains cautious. Both External Affairs Minister S Jaishankar and the Ministry of External Affairs have stated clearly that India is not part of any 'de-Dollarisation' drive. New Delhi has no interest in undermining the Dollar, nor is it backing the idea of a BRICS trade currency. But in the same breath, Jaishankar underlined that India is committed to internationalising the Rupee. The dual message is deliberate: India will not join an anti-Dollar bloc, but it will also not remain hostage to US currency dominance.

The economic logic is simple. The Rupee has depreciated by over 3.5% against the US Dollar in the past year, making Indian imports more expensive. If trade is invoiced in........

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