Prime Minister Narendra Modi held talks with Venezuela’s Acting President Delcy Rodriguez in New Delhi, with both sides focusing on strengthening bilateral cooperation in energy, trade and investment. The meeting comes as India seeks to diversify its crude oil imports and enhance energy security amid global supply uncertainties.
Rodriguez, who is on a multi-day visit to India, led a high-level delegation that included ministers from key sectors such as foreign affairs, economy, finance and transportation. The discussions reviewed the entire spectrum of India-Venezuela relations and explored new opportunities for collaboration.
Energy cooperation emerged as the central theme of the talks. Venezuela, which holds the world’s largest proven oil reserves, has become an increasingly important supplier of crude oil to India. Indian refiners have significantly increased purchases from the South American nation in recent months as New Delhi looks to reduce dependence on traditional supply sources.
The two leaders discussed expanding cooperation in both upstream and downstream energy sectors, including oil exploration, production, refining and distribution. They also explored opportunities in critical minerals and mining, areas considered important for India’s long-term industrial and energy requirements.
Apart from energy, the discussions covered trade, investment, pharmaceuticals, healthcare, transportation and renewable energy. Officials said the visit is expected to further deepen bilateral ties and create new avenues for economic engagement between the two countries.
India was once among the largest buyers of Venezuelan crude oil before imports were disrupted by sanctions. However, purchases have resumed and grown rapidly, making Venezuela one of India’s key crude suppliers. Industry experts believe stronger ties with Venezuela will support India’s strategy of securing reliable and diversified energy sources.
