Principal Secretary to the Prime Minister P K Mishra has said tariffs, export controls, sanctions and related restrictions are increasingly being used not only for commercial objectives but also for strategic purposes. Speaking at the Kautilya Economic Conclave, he argued that economic resilience has become central to national strategy.
From efficiency to resilience
Mishra said recent shocks—from the pandemic to wars and shipping disruptions—have exposed vulnerabilities in highly concentrated supply chains. A system that is efficient under normal conditions can become fragile when a critical supplier or transport route is disrupted.
Energy security broadens
For energy-importing economies, he said the question is no longer only the price of energy but also whether supplies remain available and can physically reach the country. India has responded by diversifying crude-oil suppliers and maintaining buffers.
Trade relationships diversify
Mishra pointed to India’s widening network of trade relationships as another layer of resilience. The objective, in his formulation, is not economic isolation but avoiding excessive dependence on a small number of partners.
Policy implication
The remarks illustrate how geopolitical risk is increasingly shaping economic policy. Governments now weigh redundancy, strategic reserves and diversified sourcing alongside conventional cost efficiency.
Source: The Indian Express, October 4, 2026.
