The development is a complete U-turn from the BRICS initiative where the alliance is pushing de-dollarization narratives around the world. Sources say India is unhappy with the narrative pushed by its BRICS counterparts, China and Russia. According to sources, India believes that China is using BRICS as a stepping stone to strengthen its dominance around the world. India's Foreign Minister S. Jaishankar confirmed that the country is not interested in the dedollarization agenda.