India maintains strong ties with America while rejecting Bitcoin reserve proposal

India’s strong ties with America: India and the U.S. share a strategic partnership, enjoying a favorable sentiment from 70% of Americans and 79% of Indians as of 2023. Strong trade relations position the U.S. as India’s largest trading partner since 2021.

Crypto concerns in India: Despite favorable relations, India’s Reserve Bank remains opposed to Bitcoin, fearing instability and economic disruption. The fluctuating value of Bitcoin poses significant risks for India’s managing inflation and currency valuation.