PM Modi Meets Delcy Rodriguez, Focus on Oil, Trade and Investment Cooperation

Prime Minister Narendra Modi on Thursday held bilateral talks with Delcy Rodríguez in New Delhi, with both sides reviewing the entire spectrum of India-Venezuela relations and exploring new avenues for cooperation. Discussions covered energy, trade, investment, healthcare, automobiles, mining, agriculture, transportation, and pharmaceuticals.

Addressing the media after the meeting, Rudrendra Tandon said that Venezuela, which possesses some of the world’s largest oil reserves, is undergoing significant transformation in its energy sector. He noted that both countries are working towards forging a stronger energy partnership, with Venezuela viewing India as a reliable long-term energy consumer.

The talks come at a time when India has significantly increased crude oil imports from Venezuela. Recent reports indicate that Venezuela has emerged as one of India’s major crude suppliers, helping New Delhi diversify energy sources amid disruptions in global oil markets and uncertainty in West Asia.

Beyond energy, both sides discussed expanding economic engagement in sectors such as mining, animal husbandry, agricultural equipment, automotive manufacturing, transportation, and pharmaceuticals. Officials highlighted opportunities for Indian companies to participate in Venezuela’s evolving economic landscape.

The leaders also exchanged views on regional and global developments and reaffirmed their commitment to strengthening cooperation among developing nations. Both countries emphasized the importance of advancing the interests of the Global South and deepening their long-standing bilateral partnership.

The visit of Acting President Rodriguez is being viewed as a significant step in revitalizing India-Venezuela relations, particularly in the energy sector, where both countries see substantial opportunities for long-term collaboration.