To understand why India is resisting this trade deal, we must dig deeper than surface-level economics. The mainstream narrative often frames India’s stance as protectionist stubbornness or a failure to embrace global markets. But this oversimplification misses the profound realities driving India’s decisions.

The Reserve Bank of India (RBI) implemented a rule eliminating penalties for late Equated Monthly Installment (EMI) payments across all loan types, including personal, auto, and home loans.

Dollar, the unchallenged king of global trade, might get dethroned, not by force, but by a quiet, calculated rebellion. A group of rising powers, united under a banner of economic independence, pushing for a new financial order. Yet, one key player, a nation of 1.4 billion with a rapidly growing economy, stands important, refusing to fully join the charge. What’s driving this defiance? And what does it mean for the future of global finance?