India and Indonesia Operationalize Bilateral Local-Currency Trade Framework

India and Indonesia launched a localized financial settlement framework allowing direct trade clearing in rupees and rupiah without a US dollar conversion step.

Following Indonesia's entry into BRICS, its bilateral trade using non-dollar mechanisms surged past multi-billion-dollar milestones. This reinforces your point that the impulse to hedge against SWIFT and dollar reliance is spreading beyond adversary states to large, developing "Global South" economies.