Tariffs, sanctions becoming policy instruments, sometimes weaponised: P K Mishra

Tariffs, sanctions becoming policy instruments, sometimes weaponised: P K Mishra He remarked the future will belong to those who can be "steady without being closed, careful without being fearful, and ambitious without being naïve", and India intends to be such a country.

What happened

5 min read New Delhi Updated: Oct 4, 2026 05: 01 AM IST. Principal Secretary to the Prime Minister P K Mishra.

For context, the Principal Secretary to the Prime Minister, P K Mishra, on Saturday remarked tariffs, export controls and other restrictions are increasingly being employed not only for conventional commercial objectives but additionally for strategic purposes, and these "instruments of economic policy are sometimes even weaponised".

Speaking at a session on 'A World Priced for Risk' during the 5th Kautilya Economic Conclave, Mishra remarked, "We are increasingly confronted, not merely with risk, but additionally with uncertainty. The events of this decade have brought this distinction into sharp focus. We have seen a pandemic disrupting production and mobility throughout the world, wars disrupting energy and food markets. Shipping routes and geographical chokepoints become sources of economic vulnerability. Export restrictions, sanctions and tariffs become instruments of economic policy, even sometimes they are weaponised. Critical minerals, technologies and even financial infrastructure require a new strategic significance." Discussing risks associated with energy availability, Mishra said, "For decades the principal question for an energy importing country or energy importing economy was often cost of energy. Today, there is another question – will the energy be available or can it reach us?"

The bottom line

In short, tariffs, sanctions becoming policy instruments, sometimes weaponised: P K Mishra is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.