New Delhi, Oct. 3 -- Principal Secretary to the Prime Minister, PK Mishra, on Saturday delivered the keynote address at the plenary session, "A World Priced for Risk", at the 5th Kautilya Economic Conclave in New Delhi, underlining the growing importance of resilience, diversification and strategic preparedness in an increasingly uncertain global economy.

Mishra said the nature of economic risk has changed significantly, with the world increasingly confronting not merely calculable risks but uncertainty that cannot be reliably assigned probabilities.

The pandemic, geopolitical conflicts, supply-chain disruptions, trade restrictions and rapid technological changes, he said, have brought this distinction into sharp focus.

He observed tha...