NEW DELHI — In a major diplomatic move aimed at securing long-term energy interests and strengthening ties within the Global South, Prime Minister Narendra Modi met with Venezuela's Acting President, Delcy Rodriguez, at Hyderabad House on Thursday.
Acting President Rodriguez arrived in the national capital on Wednesday for a crucial five-day working visit spanning from June 3 to June 7. Accompanied by a high-level delegation—including ministers of foreign affairs, economy and finance, transportation, and science and technology—the visit signals a profound geopolitical and economic realignment between the two nations.
Restructuring the Energy Dynamic Amid Global Turmoil
The core of the discussions centered heavily around securing India's energy landscape. India, which imports nearly 90% of its crude oil, has been forced to diversify its energy sources due to massive supply disruptions in West Asia, particularly following conflicts that have restricted passage through the crucial Strait of Hormuz.
In response to these disruptions, Indian refiners have aggressively scaled up purchases of Venezuelan oil. According to official data from the Ministry of External Affairs (MEA), Venezuela surged to become India's third-largest crude oil supplier in May 2026, with imports hitting roughly 427,000 barrels per day.
Secretary (East) Rudrendra Tandon stated following the meeting:
"Venezuela possesses one of the largest oil reserves in the world. India is aggressively seeking new sources of crude oil and energy to strengthen its energy security, and Venezuela represents an excellent opportunity and is very much part of our long-term plans."
Diversifying the Partnership Beyond Oil
While crude oil remains the cornerstone of the alliance, PM Modi and Acting President Rodriguez extensively reviewed the full spectrum of bilateral relations to expand trade horizontally. The leaders agreed to push collaboration across several key areas:
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Pharmaceuticals & Healthcare: Venezuela expresses high demand for affordable, high-quality Indian generic medicines. Joint ventures in manufacturing and vaccine production are under review.
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Mining & Critical Minerals: Discussions focused on opening up Venezuelan mineral reserves to Indian public and private sector enterprises.
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Automobiles & Transportation: The Venezuelan delegation plans to tour top Indian industrial and automotive units to adopt technological blueprints and boost transit infrastructure.
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Agriculture & Animal Husbandry: Deploying Indian agricultural equipment and farming techniques to enhance Venezuela's domestic food production.
Reaffirming the Voice of the Global South
Beyond commerce, the engagement holds immense geopolitical weight. This marks Rodriguez's sixth visit to India, establishing a strong personal rapport with the Indian leadership. Following political shifts in Venezuela earlier this year, India has maintained a steady, pragmatic approach to its partnerships in Latin America.
External Affairs Minister S. Jaishankar, who also called on Acting President Rodriguez, expressed deep appreciation for her unwavering commitment to the India-Venezuela relationship. Both leaders concluded the primary sessions by reaffirming their mutual dedication to championing the concerns, economic priorities, and development goals of developing nations on multinational platforms.
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