Trump’s presidency good for India; working to strengthen global financial system a priority: EAM Jaishankar

London: External Affairs Minister (EAM) S. Jaishankar has said that Donald Trump’s presidency has so far been good for India in many ways and working with the US to strengthen the international financial and economic system should be priority for India.

“In many ways, I would say yes,” he said when asked on Wednesday if Trump becoming US President was good for India.

Looking at “our own relationship politically, to be very honest with you, we have never had any issues with American Presidents at least in recent times,” EAM Jaishankar said.

“There’s no baggage, which we carry or burden that the relationship carries,” he said during a conversation on India’s rise and role in the world at Chatham House, the British think-tank.

On the international role of the US currency, a sensitive issue for Trump, EAM Jaishankar said, “We have no issue with the dollar, and our relations with the US are at their best. We have no interest in undermining the dollar.”

“We do believe today that working with the US and strengthening the international financial system, economic system is actually, what should be the priority,” he added.

Trump has vehemently opposed the idea of replacing the dollar with a currency of the BRICS and threatened annihilation of the 10-member group’s economy if it tried.

EAM Jaishankar said India had no policy to replace the dollar, which is the reserve currency and the source of international economic stability.

“I don’t think there’s a unified BRICS position on” having its own currency, he said.

“BRICS members, — and now that we have more members — have very diverse positions on this matter.”

At the same time, EAM Jaishankar said, “We are clearly promoting the internationalisation of the rupee because we are actively globalising India.”

“More Indians are travelling and living abroad, and India’s trade and investment sectors have expanded. As a result, the use of the rupee will also grow,” he noted.

Mechanisms for cashless payments between India and other countries have been established. New Delhi has supported direct trade settlements, particularly with nations facing a shortage of hard currency, especially dollars, he said.

Asked what he thought overall of Trump’s first 41 days in office, he said he was not surprised by the developments.

Trump has unleashed a tsunami of actions, internationally and nationally, that has surprised many leaders and caught some off guard, but EAM Jaishankar did not delve into specifics.

“I’m a little surprised that people are surprised,” he said.

“Much of what we have seen and heard over the last few weeks was to be expected” when “political forces or political leaders” have developed an agenda over a long period of time and are very passionate about it.

Trump invited Prime Minister Narendra Modi as one of the first leaders to visit him at the White House and EAM Jaishankar was a guest at the President’s inauguration.

PM Modi and President Trump reaffirmed their close ties forged during his first term and agreed to strengthen the strategic ties with the US offering high-level jets.

Significantly, PM Modi agreed to the repatriation of illegal migrants, a matter of priority for Trump, and three planes have brought some of them to India.

While EAM Jaishankar spoke of the “relationship politically”, on the trade front, India and the US have to sort out the tariffs issue.

Trump has accused India of being a “tariff king” charging one of the high rates in the world and threatened reciprocal tariffs.

The two countries are trying to work it out and India has already announced it was lowering some tariffs of US imports.

–IANS