India Inc too can cut ‘dollar colonialism’
Whether dedollarisation happens at the macro level, at the corporate levels the 'dollar colonialism' can be removed subject to some compulsory exemptions, said an industry official.
IT spends by governments could reach $589 billion in 2023
Chennai: Whether dedollarisation happens at the macro level, at the corporate levels the 'dollar colonialism' can be removed subject to some compulsory exemptions, said an industry official. Simply put, dedollarisation means lesser reliance on the US dollar as a medium of exchange in international trade.
“As regards India, dedollarisation is a gradual journey or a slow process. The US dollar has creeped into our corporate lexicon in a subtle way - say, in terms of denoting the financial numbers, market size and others,” a credit rating industry official said preferring anonymity. Dedollarisation of Indian corporate annual reports can happen without any major issue, subject to certain exceptions like the companies that listed their shares in the US.