India Eyes Stronger Oil Links with Venezuela, Explores Multi-Sector Cooperation

India and Venezuela on Thursday held high-level discussions aimed at strengthening bilateral cooperation, with a strong focus on energy security and expanding economic ties across multiple sectors.

Speaking at a special MEA briefing on the visit of the Acting President of Venezuela, Delcy Rodriguez, Secretary (East) Rudrendra Tandon said that the visiting leader was accompanied by a "large delegation of ministers" and held official talks with Prime Minister Narendra Modi, which included a working lunch.

Highlighting the core focus of the engagement, Tandon noted that Venezuela has "already emerged as the third largest supplier" of crude oil this month. He added that the discussions were "focused on forging an energy partnership."

He further said that both sides see strong mutual benefits in the relationship, stating that there exists a " perfect complementarity for India and Venezuela to work in the energy sector, both upstream as well as downstream."

According to him, Venezuela views India as a stable demand partner "for many years", forming the basis for sustained cooperation.

How Are India–Venezuela Talks Expanding Beyond Energy Into Multiple Sectors?

Beyond energy, the talks also explored broader economic engagement. Tandon described Venezuela as a "large country, resource-rich" that is now showing signs of moving toward a path of sustained growth, creating opportunities across several sectors.

He said there is "huge opportunity not only in the energy sector but also in mining, animal husbandry, transportation, agricultural equipment, automotive sector and pharma."

The discussions, he added, focused on how Indian companies could successfully enter these markets and build new partnerships.

Calling the engagement "very businesslike and very substantive," Tandon emphasised that there was genuine warmth between the two delegations.

He also noted that the Venezuelan side acknowledged India's long-standing support, saying India has "stood with Venezuela in bad times as well as good times."

Why Does Venezuela See India as a Preferred Partner in Future Bilateral Ties?

The MEA added that Venezuela considers India a "preferred partner going into the future," underscoring the continuity and strengthening of bilateral relations.

Earlier on Thursday, Prime Minister Narendra Modi and Venezuela's Acting President Delcy Rodriguez held wide-ranging discussions aimed at exploring new avenues of cooperation.

The leaders also reaffirmed their commitment towards advancing the interests of the Global South.

Sharing the details of the meeting in a post on X, the Ministry of External Affairs Spokesperson Randhir Jaiswal said, "PM @narendramodi held wide-ranging discussions with Acting President Delcy Rodriguez of Venezuela today. The leaders reviewed the full spectrum of bilateral relations and explored new avenues of cooperation in energy, trade, investment, healthcare, automobiles among others."

He informed that the leaders also exchanged views on global and regional issues of mutual interest.

India and Venezuela reaffirmed their commitment to deepening the bilateral partnership and advancing the interests of the Global South.

(With inputs from ANI)