Conditions not ripe to make INR a hard currency: GTRI

India should focus on becoming a middle-income country before aiming to make the Indian Rupee a hard currency, according to the Global Trade Research Initiative (GTRI). The think tank stated that achieving hard currency status requires economic stability, strong fiscal and monetary policies, and political stability. GTRI suggested that India should instead work on promoting the settlement of global trade in the local currency to strengthen the economy.

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