GENERAL3 Oct 2026
Sanctions, tariffs sometimes weaponised as policy tools: PK Mishra
Speaking at the Kautilya Economic Conclave, Principal Secretary P K Mishra warned that tariffs, sanctions and export restrictions are now sometimes used as weapons of policy, and that wars around routes like the Strait of Hormuz threaten India's energy security. India has replied by holding bigger stocks, buying from more countries — crude oil suppliers rose from 27 to 43 — and building domestic renewable capacity.
Key Statutory Highlights
- Export restrictions, sanctions and tariffs have become instruments of economic policy and are sometimes even weaponised, P K Mishra said.
- Disruption around the Strait of Hormuz is a clear reminder of how geography can translate into economic risk for India, a major energy importer.
- India has raised the number of countries it imports crude oil from to 43, up from 27, and maintained substantial stocks along with diversified procurement.
Actionable Advice for Taxpayers / Founders:If your business depends on imported fuel, shipping routes or critical minerals, it may be worth reviewing your exposure and identifying backup suppliers now. A CA can help you check the duty and tax impact of any change you plan.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: