Why Is the Dollar Used?

The US dollar is widely used in international trade because companies, banks and financial markets around the world already accept and hold it.

Imagine an Indian company selling goods worth ₹1 crore to a Russian customer.

A traditional payment route could involve:

Indian Rupee → US Dollar → Russian Ruble

The dollar works as a common bridge between two currencies.

But exchanging currencies can involve fees and exchange-rate risks.

That raises a simple question:

Why not use the rupee and ruble directly?

How Can Local-Currency Trade Work?

In some arrangements, companies can settle trade using their own national currencies.

For example:

Indian company
₹ Rupees
↓
Indian bank
↓
Cross-border payment arrangement
↓
Russian bank
↓
₽ Rubles
Russian company

The exact process depends on the banks, regulations and payment arrangements between the two countries.

So it is not simply a matter of sending physical rupees to Russia. Banks and financial institutions still have to process and settle the transaction.

Does BRICS Have Its Own Currency?

No.

This is an important point.

BRICS does not currently give ordinary businesses a single universal “BRICS currency” that they can use everywhere.

The idea being discussed is broader: making trade and payments in local currencies easier and increasing alternatives to relying entirely on the US dollar.

For example, an Indian business could potentially have more options when trading with another participating economy.

Why Could This Matter to Businesses?

Local-currency settlement could provide businesses with additional choices.

For example, an exporter might benefit from:

• More ways to receive international payments
• Less dependence on one foreign currency
• Potentially fewer currency conversions
• Better management of currency risk

However, local-currency trade is not automatically cheaper.

Businesses still need to consider exchange rates, bank charges, liquidity and regulations.

Does This Mean the Dollar Will Disappear?

Definitely not.

The US dollar remains extremely important in global trade and finance.

A company may continue using dollars because its customer or supplier prefers them, its bank provides better dollar services, or it needs dollars for another international payment.

Therefore, the more realistic idea is not:

“BRICS will replace the dollar.”

It is:

“Businesses could have more choices.”

A Simple Example

Suppose an Indian textile company exports clothing to Russia.

Instead of automatically using:

₹ → $ → ₽

a suitable local-currency arrangement could allow the transaction to be settled more directly between the rupee and ruble.

This could reduce dependence on the dollar for that particular transaction.

But the banks still need a mechanism to determine the exchange rate and complete the settlement.

What Is the Bigger BRICS Idea?

The financial goal is mainly about diversification and alternatives.

Instead of every international transaction depending on one major currency, countries can explore different payment and settlement options.

For businesses, that could eventually mean:

More currencies + more payment options + more financial choices

rather than one system replacing another overnight.

The Bottom Line

Can BRICS trade without the US dollar?

Yes, some transactions can be conducted using local currencies, depending on the countries, banks and financial arrangements involved.

But BRICS is not creating a magic payment system that makes the dollar unnecessary.

The more realistic change is that international businesses may gradually get more choices in how they pay, receive money and manage currency risk.

The dollar may remain a major global currency—but it may not need to be involved in every transaction.

Read next: How BRICS Local Currency Trade Could Change International Business

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Traditionally, the US dollar has often been part of international payments. But growing interest in local-currency trade could give companies more options when trading across borders.

The change is not about suddenly eliminating the dollar. It is about giving businesses more ways to pay and receive money internationally.

What Is Local-Currency Trade?

Local-currency trade means two countries can settle some transactions using their own national currencies.

For example, an Indian company buying goods from Russia could potentially use a settlement arrangement involving:

Indian Rupee (₹) Russian Ruble (₽)

instead of automatically using:

₹ → US Dollar ($) → ₽

The banks involved would still handle currency conversion and settlement.

Why Could Businesses Care?

For an international company, currency is part of the cost of doing business.

Every additional conversion can involve exchange-rate differences, banking charges and other costs.

If local-currency settlement becomes easier, companies could have another option when deciding how to structure international payments.

1. More Payment Choices

A business would not necessarily have to depend on one currency for every international transaction.

For example, an exporter could compare whether receiving payment in dollars or a local currency makes more financial sense.

2. Managing Currency Risk

Currency values change constantly.

Imagine an Indian company has to receive payment several months after shipping its products.

If the payment is agreed in a foreign currency, a major exchange-rate movement could change the value of the money the company ultimately receives in rupees.

Using different settlement arrangements could help businesses manage this exposure.

However, local currencies also have exchange-rate risks. Local currency does not mean zero currency risk.

3. Potentially Fewer Conversion Steps

A traditional transaction might involve several currency conversions.

A direct local-currency arrangement could potentially reduce some of those steps.

But this depends on whether banks have sufficient liquidity and suitable payment infrastructure.

Which Businesses Could Be Affected?

The potential impact is particularly relevant to companies involved in cross-border trade.

Examples include:

• Textile exporters
• Pharmaceutical companies
• Machinery manufacturers
• Engineering companies
• Technology businesses
• Importers
• Commodity traders
• Infrastructure companies

For a small exporter, even having an additional payment option could become useful when negotiating with overseas customers.

What About Small Businesses?

A small Indian business does not automatically need to start using local currencies just because BRICS supports greater financial cooperation.

The practical question is:

Which payment method gives the business the best combination of cost, speed and currency risk?

A company may still prefer dollars if its bank offers better dollar services or its customer already works in dollars.

Local-currency settlement becomes useful when the overall arrangement makes economic sense.

What Is the Role of Banks?

This is one of the most important parts of the system.

Businesses cannot simply decide to transfer ₹10 lakh directly to a foreign company without considering the banking system.

Banks may need to handle:

• Currency conversion
• Payment processing
• Foreign-exchange regulations
• Compliance checks
• Settlement between financial institutions

Therefore, successful local-currency trade depends heavily on banking and payment infrastructure.

Does Local Currency Mean Lower Costs?

Not always.

This is where businesses need to be careful.

A transaction using local currencies could still have:

• Exchange-rate costs
• Bank fees
• Liquidity costs
• Settlement charges
• Regulatory requirements

In some cases, using the dollar may actually be cheaper because the dollar market is extremely liquid.

So businesses should compare the total transaction cost, rather than assuming local currency is automatically better.

Why the Dollar Will Still Matter

Even if local-currency trade grows, companies are unlikely to stop using dollars completely.

The dollar remains deeply connected to international banking, investment and trade.

A business may continue using dollars because:

Customer prefers dollars → Supplier prefers dollars → Bank supports dollars → Dollar market is highly liquid

That makes the dollar difficult to replace quickly.

So What Could Actually Change?

The biggest potential change is choice.

International companies could increasingly decide which currency and payment arrangement works best for a particular transaction.

One deal might use dollars.

Another could use local currencies.

A third might involve another international currency.

The decision could depend on:

Cost + exchange rate + liquidity + regulations + business needs

What BRICS Could Mean for International Business

BRICS-related financial cooperation could gradually make alternative payment and settlement arrangements more practical.

For businesses, the potential benefits are therefore not about one new currency replacing everything.

They are about having more options.

An Indian exporter could potentially look at several payment routes instead of assuming that every international transaction must pass through the US dollar.

For businesses watching the changing global payment landscape, BRICS local currency trade could become an increasingly relevant option for cross-border transactions.

The Bottom Line

BRICS local-currency trade could change international business by giving companies more choices in cross-border payments.

But it will not make the dollar irrelevant overnight.

The real test will be whether local-currency arrangements become cheaper, faster, reliable and easy enough for businesses to use.

If that happens, international companies may gradually diversify the currencies they use for trade.

The future may not be dollar versus BRICS. It could simply be more choices for global business.

Read next

Why Is the US Dollar Used Around the World? The History Explained

The post BRICS Local Currency Trade: What It Means for Business appeared first on Pijus.

Coca-Cola Was Not Originally a Bottled Drink

When Coca-Cola started, customers did not buy it in the familiar bottle or can we know today. It was mainly served as a fountain drink.

A glass cost 5 cents. The name “Coca-Cola” was suggested by Pemberton’s bookkeeper and partner, Frank M. Robinson, who also created the famous flowing script used for the name.

This reveals an important business idea: the product itself is not always enough. A memorable name and presentation can also become part of a product’s identity.

The First Big Business Challenge

Pemberton created the product, but he did not turn it into the global company we know today. He gradually sold interests in the business.

Later, businessman Asa G. Candler acquired the rights and helped transform Coca-Cola into a much larger business. In 1892, he founded The Coca-Cola Company.

Candler focused heavily on marketing and distribution.

Instead of simply waiting for customers to discover the drink, Coca-Cola started actively putting its name in front of people through advertising and promotional items.

An Interesting Early Marketing Strategy

Coca-Cola used coupons as early as 1887 to encourage people to try the drink.

The company also used promotional products such as calendars, clocks and fans to keep the Coca-Cola name visible to customers.

This was more than advertising.

The business was trying to make the name familiar and memorable.

The Decision That Changed Coca-Cola

One of Coca-Cola’s most important developments was bottling.

In 1894, Joseph A. Biedenharn began bottling Coca-Cola. Then, in 1899, Benjamin Thomas and Joseph Whitehead obtained the rights to bottle and sell Coca-Cola on a large scale. They helped develop a network of local bottlers.

This changed the business model.

Before bottling, customers generally had to visit a soda fountain.

With bottles, the product could travel to the customer.

That simple change created a powerful business advantage:

Instead of waiting for customers to come to the product, the product could go where the customers were.

Coca-Cola Did Not Have to Do Everything Alone

Another interesting part of Coca-Cola’s growth was its bottling network.

Rather than building every bottling operation itself, Coca-Cola developed relationships with local bottlers who could produce and distribute the drink in their territories.

This created an important business lesson:

A company can grow faster by building a strong network of partners instead of trying to control every single activity itself.

Coca-Cola Was Selling More Than a Drink

Over time, Coca-Cola built something much more valuable than a beverage.

It built a brand.

The company invested heavily in advertising and created a recognizable identity around its name and presentation. As more people saw the same brand across different locations, Coca-Cola became easier to recognize and remember.

This is where Coca-Cola’s business story becomes especially interesting.

A company can start with a physical product, but its long-term value can come from brand recognition, customer trust, distribution and repeat purchases.

What Can Businesses Learn from Coca-Cola?

An entrepreneur should not think only:

“Is my product good?”

A stronger business thinker also asks:

• How will customers discover my product?
• Why will they remember my brand?
• Where will they be able to buy it?
• Why will they buy it again?
• How can I reach more customers without doing everything myself?

Coca-Cola’s growth shows how product + branding + marketing + distribution can turn a small idea into a much larger business.

The Unknown Business Lesson

Coca-Cola’s first-year sales were only about nine drinks per day on average.

The lesson is simple:

Small sales at the beginning do not always mean a business idea is small.

Sometimes the real opportunity is hidden in how the product is marketed, distributed, positioned and remembered.

Coca-Cola’s story is therefore not just the history of a soft drink. It is the story of how a simple product gradually became a business system and a global brand.

The post Coca-Cola Business Story, How a Small Drink Became a Global Brand appeared first on Pijus.

A global business no longer needs to begin with a large office, hundreds of employees or a huge investment.

The internet has changed the starting point.

Today, a small business can create a product in one country, promote it through social media, receive payments digitally and sell it to customers in another country. As technology develops, AI translation, global e-commerce, digital payments and automated customer support could make this process even easier.

The World Is Becoming One Marketplace

In the past, selling internationally was complicated. A small business often needed distributors, physical offices, foreign partners and significant capital.

Now, many of those barriers are becoming digital.

An entrepreneur can potentially:

• Build an online store
• Advertise to customers in different countries
• Accept international payments
• Use AI to translate product information
• Provide automated customer support
• Work with third-party logistics companies
• Track international orders online

Platforms such as Shopify have helped businesses create online stores and reach customers beyond their local markets.

AI Could Make Global Selling Easier

One of the biggest changes may come from artificial intelligence.

Imagine a small business owner in India selling handmade products to customers in Japan, Europe or the United States.

AI could help translate product descriptions, answer basic customer questions, analyse customer behaviour and create marketing content for different markets.

This means the entrepreneur may not need to become an expert in every language or hire a large international team at the beginning.

One Person, Many Markets

The most interesting possibility is the rise of the one-person global business.

A single entrepreneur could potentially manage:

Product → Website → Marketing → Customer Support → Payment → Delivery

with technology assisting at every stage.

This does not mean employees will disappear. Instead, technology may allow a small team to achieve work that previously required a much larger organisation.

A New Opportunity for Small Entrepreneurs

The future of business may therefore not be simply about becoming a bigger company.

It may be about becoming more connected.

A small business in Kolkata, for example, could find a customer in London without opening a London office. A local designer could sell digital products worldwide. A small manufacturer could find international buyers through online marketplaces.

The biggest advantage may no longer belong only to companies with the most money.

It could increasingly belong to businesses that understand technology, build trust and solve a real customer problem.

The Future Has Already Started

Global business is moving from a model where companies needed to physically enter a country to one where many businesses can enter a market digitally first.

AI and e-commerce will not guarantee success. Competition, product quality, regulations, taxes, shipping and customer trust will still matter.

But one thing is becoming clear:

The distance between a small local business and a global customer is getting smaller.

And in the coming years, the next global company may not start in a huge corporate office.

It may start with one person, one idea and a laptop.

The post Small Business Global Company, The Future of Small Business appeared first on Pijus.

Artificial Intelligence is changing the way businesses work. Companies can now create content, analyse data, automate tasks and serve customers faster than ever.

Business is becoming smarter. But are we becoming less human?

AI saves time and reduces costs, but it can also reduce human interaction. A chatbot may answer a customer instantly, yet it cannot truly understand emotions. Automated systems can make decisions quickly, but human judgment, empathy and responsibility still matter.

The real challenge is not AI vs humans. It is finding the right balance.

Businesses that use AI only to replace people may gain efficiency but lose trust and personal connection. Businesses that use AI as a tool while keeping people at the centre can grow without losing their human side.

The Future Needs Both

AI can calculate, predict and automate.
Humans can care, understand and create meaning.

The best business of the future may not be the one with the most AI—but the one that knows where AI should stop and humanity should begin.

SEO Keywords: AI and business, artificial intelligence, future of business, AI impact on humanity, human connection, AI vs humans, technology and society

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The BSE Sensex ended at 77,472.94, down around 183 points, or 0.24%. The Nifty 50 closed at 24,207.75, declining approximately 126.8 points, or 0.52%.

IT Stocks Lead the Decline

Information technology shares were among the biggest sources of pressure during the session. The Nifty IT index dropped around 1.5%, as investors remained cautious about the outlook for Indian technology companies and the potential impact of changes to US H-1B visa costs.

Heavyweight Reliance Industries also declined, adding further pressure to the benchmark indices.

Financial Stocks Provide Some Support

The selling was not widespread across every major sector. Financial stocks and private-sector banks managed to post gains, helping limit the overall decline. Broader markets also showed mixed performance, with small-cap stocks finishing higher while mid-caps remained largely flat.

Investors Remain Cautious

Market sentiment remained cautious despite lower crude oil prices, which can generally benefit India’s import-dependent economy. Investors are also watching global developments and upcoming corporate earnings for further clues about the market’s direction.

For now, traders appear focused on whether the market can regain momentum after Wednesday’s decline or remain under pressure in the next trading sessions.

Disclaimer: This article is for informational purposes only and should not be considered investment advice.

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