NEW DELHI(TIP): India and Venezuela on Thursday, June 4, agreed to deepen cooperation in energy, critical minerals, technology, agriculture and healthcare as Prime Minister Narendra Modi held wide-ranging talks with Venezuelan Acting President Delcy Rodríguez, with energy security emerging as the central theme of the visit.
Describing Venezuela as a valued partner in Latin America, Modi said the two sides had extensive discussions on expanding cooperation across key sectors and reaffirmed their commitment to advancing the interests of the Global South.
“Happy to meet with the Acting President of Venezuela, Delcy Rodríguez. We had extensive discussions on expanding our cooperation in energy, critical minerals, technology, agriculture, health and people-to-people ties,” Modi said after the meeting.
The talks assume added significance amid heightened uncertainty in global oil markets triggered by the crisis in West Asia and concerns over disruptions to shipping through the Strait of Hormuz, a critical artery for global crude supplies. The developments have reinforced India’s efforts to diversify energy sources and strengthen partnerships with major oil-producing nations.
According to the Ministry of External Affairs (MEA), energy dominated the discussions as India and Venezuela sought to leverage what officials described as a “perfect complementarity” between one of the world’s largest holders of proven oil reserves and one of the fastest-growing consumers of energy.
“Venezuela has already emerged as the third-largest supplier in our spot purchases this month,” Secretary (East) Rudrendra Tandon said during a special media briefing. He added that both sides discussed cooperation across the energy value chain, including upstream and downstream activities.
Petroleum and Natural Gas Minister Hardeep Singh Puri, who also met Rodríguez, said Venezuela was among India’s largest crude suppliers in April and May. He announced that an Indian technical team would soon visit Venezuela to explore opportunities for expanding energy cooperation and investments.
“Venezuela possesses the biggest proven reserves of oil in the world, while India has both the demand and the technological expertise to refine Venezuelan crude,” Puri said.
Beyond hydrocarbons, the two sides explored cooperation in critical minerals, mining, pharmaceuticals, transportation, agriculture and the automotive sector. Officials said Indian companies could find significant opportunities in Venezuela’s resource-rich economy as the country seeks to revive growth and attract investment.
The pharmaceutical sector also figured prominently in the discussions, with the Venezuelan side expressing interest in India’s affordable generic medicines and public healthcare initiatives, including the Jan Aushadhi program.
This was Rodríguez’s first visit to India since assuming charge as acting head of the Venezuelan government following the capture of President Nicolás Maduro by US forces during an operation in Caracas in January. Rodríguez was subsequently appointed interim president by Venezuela’s Supreme Court to ensure continuity of the government.
While no major agreements were announced during the visit, officials described the discussions as substantive and business-oriented, aimed at creating conditions for greater participation by Indian public and private sector companies in Venezuela.
Officials said the visit was expected to impart fresh momentum to bilateral ties and open new avenues of cooperation in sectors critical to energy security, economic growth and the development priorities of the Global South.
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