External Affairs Minister (EAM) S. Jaishankar addressed key issues on Wednesday, including Kashmir and the role of the dollar in international economic discussions, during his visit to Chatham House in the United Kingdom.
Regarding Kashmir, Jaishankar discussed the steps taken by the Indian government, including the removal of Article 370, restoration of economic activity, and the conduct of high-turnout elections. He emphasized, “In Kashmir, we have done a good job solving most of it. I think removing Article 370 was one step. Then, restoring growth, economic activity and social justice in Kashmir was step number two. Holding elections, which were done with a very high turnout, was step number three. I think the part we are waiting for is the return of the stolen part of Kashmir, which is on the illegal Pakistani occupation. When that’s done, I assure you, Kashmir solved.”
Jaishankar also addressed broader issues, including India’s relationship with China and the internationalization of the rupee, before discussing the views of BRICS member countries on the use of the dollar in the global economy. He clarified, “I don’t think there’s any policy on our part to replace the dollar. As I said, at the end of the day, the dollar as the reserve currency is the source of international economic stability. And right now, what we want in the world is more economic stability, not less.”
On BRICS members’ stance on the dollar, Jaishankar noted, “I would also say in all honesty, I don’t think there’s a unified BRICS position on this. I think BRICS members and now that we have more members have very diverse positions on this matter. So the suggestion or the assumption that somewhere there is a united BRICS position against the dollar I think is not borne out by facts.”
He continued, “To me, it’s kind of deterministic that there is multipolarity, multipolarity has to translate itself into a currency multipolarity. It doesn’t have to.”
Emphasizing the importance of global cooperation, Jaishankar stated, “We do believe today that working with the United States and strengthening the international financial system, economic system, is actually what should be the priority.”
Jaishankar is currently on an official visit to the United Kingdom and Ireland from March 4 to 9 to strengthen India’s friendly ties with both nations. The Ministry of External Affairs highlighted that India and the UK share a Comprehensive Strategic Partnership, which has strengthened in areas such as defense, trade, economy, health, education, and people-to-people ties.