India remains a bright spot in an otherwise grim world economic scenario and internationalisation of rupee is the natural step forward, RBI executive director Radha Shyam Ratho said on Tuesday. However, the path to this may not be smooth as it entails navigating many hurdles over a long period of time, An official said.
The global geopolitical climate in the recent years has ushered in a mounting need for countries to undertake currency diversification to minimise vulnerabilities resulting from the weaponisation of the hard currencies (dollar),” he said. Ratho said in contrast to the global economy which is facing “mega threats”, the Indian economy is currently going through “Goldilocks moment” and has exhibited unique resilience in last 3-4 years despite unfavourable external shocks. agencies.