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MoSPI (Ministry of Statistics and Programme Implementation)
Definition
India's apex statistical authority responsible for compiling and releasing National Accounts Statistics (GDP), Consumer Price Index (CPI), Index of Industrial Production (IIP), and National Sample Survey data. MoSPI's advance GDP estimate is the highest-profile Indian data release and the primary input for India macro regime classification.
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De-Dollarization
The structural macro trend where nations — especially BRICS+ members — deliberately reduce their reliance on the US Dollar as a reserve currency, oil pricing medium, and trade settlement currency. Tracked via IMF COFER data (USD share of allocated reserves), bilateral local currency trade agreements, central bank gold purchases, and the emergence of alternative settlement networks (mBridge, Afrexim-based systems).mBridge (Multi-CBDC Bridge)
A multi-central bank digital currency (CBDC) platform developed by the BIS Innovation Hub in collaboration with the PBoC, HKMA, Bank of Thailand, and UAE Central Bank. Designed as a structural alternative to SWIFT for cross-border settlement in local currencies. mBridge transactions settle in real-time on a distributed ledger, bypassing dollar correspondent banking entirely.Petrodollar System
The arrangement, formalised between the US and Saudi Arabia in 1974, whereby oil is priced and settled exclusively in US Dollars globally. This creates structural, recurring demand for USD from every oil-importing nation worldwide — effectively backing the dollar with energy rather than gold after Nixon closed the gold window in 1971. Saudi Aramco's first yuan-settled oil sale (2023) represents the first major crack in this arrangement.Track MoSPI (Ministry of Statistics and Programme Implementation) live
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