Archive · 4 Oct 2026
P K Mishra Says Trade Measures Can Be Weaponised
P K Mishra said countries sometimes use tariffs, sanctions and trade restrictions for strategic reasons.
He warned that wars or blocked shipping routes can make it harder for fuel and food to reach people.
India imports energy, so these problems can affect its economy.
India now gets crude oil from 43 countries, compared with 27 before.
Mishra said having more suppliers and routes can reduce reliance on any one source.
He also described efforts to build energy capacity at home and to explore, process and recycle important minerals.
India is working with other countries and making trade agreements, too.
Strong public finances and financial institutions can help the country handle unexpected shocks.
Mishra said India should stay open to the world while avoiding excessive dependence.
P K Mishra said tariffs, sanctions and export restrictions are increasingly used for strategic purposes and can be weaponised.
He warned that wars, supply-chain disruptions and shipping-route chokepoints can threaten energy and food supplies and affect prices.
India's crude oil import sources have expanded from 27 countries to 43, alongside efforts to maintain stocks and diversify suppliers and routes.
Mishra cited domestic energy capacity and the National Critical Mineral Mission's work on exploration, processing and recycling as resilience measures.
He also pointed to international partnerships and broader trade agreements, as well as fiscal space, foreign-exchange reserves and a sound financial system.
- Who
- P K Mishra, Principal Secretary to the Prime Minister of India.
- What
- He discussed global economic uncertainty and India's efforts to reduce vulnerabilities in energy, supply chains and trade.
- When
- Saturday, October 3, 2026.
- Where
- The 5th Kautilya Economic Conclave, during a session titled “A World Priced for Risk.”
- Why
- To explain how external disruptions can create economic risks and describe ways India is seeking greater resilience.
- Speaker
- P K Mishra, Principal Secretary to the Prime Minister
- Event
- 5th Kautilya Economic Conclave
- Session
- “A World Priced for Risk”
- Crude oil suppliers
- India's source countries increased from 27 to 43
- Critical minerals
- The National Critical Mineral Mission supports domestic exploration, processing and recycling
- International partnerships
- Mishra cited partnerships with the United States, France, Germany and the Netherlands on critical minerals
- Date
- October 3, 2026
