"Rupee internationalisation" is struggling, why does no one trust India? :- www.deekpay.com

　　According to the article, here are some key points about the internationalisation of the Indian rupee:

　　1. **Proposal for internationalisation of the rupee**: The Reserve Bank of India has recently revived the subject of internationalisation of the rupee, with plans to expand the use of the rupee in export-import trade, transactions in other items of the balance of payments, and transactions in capital items.

　　2. **Lessons from Russia**: In 2022, Russia experienced a surge in its rupee account balance as a result of the introduction of rupee settlements for its bilateral trade with India, but the fact that the rupee is not a global currency made it difficult for Russia to use it to purchase goods in other countries and the instability of the rupee exchange rate led to losses for Russia.

　　3. **Achievements in internationalisation of the rupee**: India has made some achievements in internationalisation of the rupee, such as the issuance of the Gulf rupee, allowing foreign investors to hold masala bonds, and trading in rupee-denominated financial derivatives.

　　4. **Challenges to the internationalisation of the rupee**: The internationalisation of a currency requires the functions of a settlement currency, a denomination currency and a reserve currency. The Indian rupee is deficient in terms of exchange rate stability, payment system development, efficiency and cost of cross-border currency operations, and it is not a fully convertible currency.

　　5. **Prospects for the Indian rupee**: The internationalisation of the Indian rupee faces a number of challenges, and a number of former Governors of the Reserve Bank of India have argued that the internationalisation of the rupee is currently not possible.

　　6. **India's strategy**: India is trying to take advantage of the wave of de-dollarisation to promote the internationalisation of the rupee to reduce dependence on foreign currencies and to reduce corporate currency risk and operating costs.

　　Overall, despite India's ambitions and certain achievements in promoting the internationalisation of the rupee, the road to rupee internationalisation remains challenging.