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India must cut import dependence, make goods competitively at home: Mishra

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India must cut import dependence, make goods competitively at home: Mishra

Home / Economy / News / India must cut import dependence, make goods competitively at home: Mishra

PM's Principal Secretary flags risks from fragmented global alliances, vulnerable supply chains and rising trade barriers, while calling for stronger manufacturing

Pramod Kumar Mishra, Principal Secretary to Prime Minister Narendra Modi (Photo: PTI)

Subrata Panda 4 min read Last Updated : Sep 23 2026 | 4:50 PM IST

India needs to reduce its dependence on imports and make goods domestically and competitively as global alliances fragment, supply chains become increasingly vulnerable and trade barriers rise, Pramod Kumar Mishra, Principal Secretary to Prime Minister Narendra Modi, said on Wednesday.

“We have a significant merchandise trade deficit. We must make things at home and competitively,” Mishra said.

India’s merchandise trade deficit widened to $147.09 billion in April-August 2026-27, from $123.88 billion a year earlier, according to commerce ministry data. Merchandise imports rose to $363 billion from $307.09 billion, while exports increased to $215.91 billion from $183.21 billion.

“Despite our macroeconomic fundamentals and stable economic growth, we need to be conscious of the risks we face, particularly from global developments,” Mishra said.

“Supply chains are being used as weapons. Capital can be switched on and off. Trade barriers, both tariff and non-tariff, are rising again. We cannot count on a friendly trade agreement,” he said.

Mishra said India needed to improve its manufacturing performance and skill its young workforce. He also flagged pressure on the country’s external accounts and called for greater focus on foreign direct investment (FDI).


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