- Acting President of Venezuela, Delcy Rodríguez, will be on a five-day visit to India from today. During the visit, she will hold bilateral discussions with Prime Minister Narendra Modi to review the full spectrum of India-Venezuela relations.
- The two countries will explore avenues for cooperation in key sectors including trade, investment, energy, renewable energy, healthcare and pharmaceuticals.
- India and Venezuela share friendly relations, particularly in the areas of energy and trade.
- The visit is expected to strengthen bilateral ties and deepen cooperation between the two countries across several sectors.
- During the talks with Prime Minister Narendra Modi, both sides will discuss ways to strengthen cooperation in areas of mutual interest, including energy security, trade and investment, pharmaceuticals, healthcare, transportation and renewable energy.
- The Venezuelan delegation will visit facilities related to the energy, pharmaceutical and automobile sectors. The visit aims to explore opportunities for collaboration and gain insights into India’s technological and industrial capabilities.
- The visit comes after Rodriguez was earlier scheduled to travel to India to participate in the International Big Cats Alliance Summit on June 1. However, the summit was deferred.
This will be Rodríguez’s sixth visit to India. She previously visited the country as Venezuela’s Foreign Minister in 2015 and later as Vice President in 2019, 2023, 2024, and 2025
- Indian public sector undertakings have made significant investments in Venezuela in the energy sector, and they are keen to explore more opportunities to further enhance their presence.
- India and Venezuela share a history of warm relations. There is a similarity of views on major international, political and economic issues. This strong partnership extends beyond bilateral cooperation, as both nations actively collaborate in multilateral forums. The two countries marked the 65th Anniversary of establishment of diplomatic relations in 2024. Resident Embassies have been in Caracas and New Delhi for over four decades, a statement by the Indian Embassy in Caracas said.
- Venezuela, holder of one of the world’s largest proven oil reserves, has emerged as a key alternative supplier for Indian refiners in recent months.
- India was the second-largest importer of Venezuelan oil in May with purchases of 427,000 barrels per day, second only to the U.S. India’s Reliance Industries, has emerged as one of the three largest buyers of Venezuelan crude in recent months.
- This surge follows US easing of a 25% tariff and sanctions post-Maduro’s capture, enabling Indian firms like Reliance Industries and ONGC Videsh to re-engage.
- Her visit comes as India, the world’s third-largest oil importer and consumer, grapples with supply disruptions caused by the U.S.-Israeli war with Iran, which has virtually shut the Strait of Hormuz – a key conduit that carried more than 40% of the South Asian nation’s crude oil imports.
India had stopped buying Venezuelan oil last year, after U.S. President Donald Trump authorized a 25% discretionary tariff on countries buying crude from the South American nation. It resumed purchases when sanctions were eased in February following a flagship oil supply pact between Washington and Caracas.