10 hrs ago
P K Mishra Warns Trade Measures Can Become Weaponised
P K Mishra said countries can use trade rules, tariffs and sanctions to pursue their goals.
Wars or problems along important shipping routes can make fuel and food harder to move.
This can affect India because it imports a lot of energy.
India now gets crude oil from 43 countries, up from 27, and is seeking other suppliers and routes.
It is also working to produce more energy at home and develop renewable and nuclear power.
Minerals used in batteries and electronics can be difficult to obtain because much of their processing happens in a few places.
India is working with other countries and supporting exploration, processing and recycling.
Mishra said strong public finances and financial institutions can help the country handle unexpected problems.
He said resilience means staying connected to the world while reducing vulnerability.
P K Mishra said export restrictions, sanctions and tariffs can become economic policy instruments and may be weaponised.
He warned that conflict and disruption to shipping routes can threaten energy and food markets and raise economic risks for India.
India has increased the number of countries it imports crude oil from, from 27 to 43, and has diversified suppliers and routes.
Mishra cited domestic energy capacity, critical-mineral exploration and international partnerships as parts of India's resilience efforts.
He said fiscal space, foreign-exchange reserves and a sound financial system help India respond to external shocks.
- Who
- P K Mishra, Principal Secretary to the Prime Minister of India.
- What
- He discussed how geopolitical and economic disruptions create risks, and described India's measures to improve resilience.
- Where
- At the Kautilya Economic Conclave.
- When
- Saturday, October 3, 2026.
- Why
- To address economic risks from conflict, trade measures, shipping disruptions and concentrated supply chains.
Key facts
- Speaker
- P K Mishra, Principal Secretary to the Prime Minister
- Event
- Kautilya Economic Conclave
- Talk subject
- “A World Priced for Risk”
- Crude oil sources
- India's crude oil import countries increased from 27 to 43
- Energy risk cited
- Disruption around the Strait of Hormuz
- Critical-mineral initiative
- National Critical Mineral Mission
- Date published
- October 3, 2026
Quotes
P K Mishra
Principal Secretary to the Prime Minister of India
“For energy security, the disruption around the Strait of Hormuz has been a particularly clear reminder of how geography can translate into economic risk.”
thehindubusinessline.com
“Resilience cannot be insulation from the world. It has to mean the ability to remain open to the world without becoming excessively vulnerable to it.”
thehindubusinessline.com









