Prime Minister Narendra Modi met Venezuela's Acting President Delcy Rodríguez in New Delhi on Thursday to discuss energy security and oil supplies [1].
The meeting comes as India seeks to diversify its crude imports to stabilize its economy during a global oil crisis triggered by the 2026 Iran-U.S.-Israel war [2].
Rodríguez arrived in India on June 3 and is scheduled to remain in the country through June 7 for a five-day visit [3]. The bilateral talks covered a broad range of cooperation, including energy security, trade, pharmaceuticals, and digital payments [1].
India currently ranks as the world's third-largest oil buyer [3]. Because of this demand, the Indian government is prioritizing strategic partnerships that can provide a steady flow of crude oil to avoid domestic shortages.
"India welcomes Venezuela's partnership in ensuring energy security for our people," Modi said [1].
Rodríguez emphasized the commitment of her administration to the relationship. "We are committed to strengthening energy cooperation with India," she said [2].
The discussions focused on establishing a more permanent role for Venezuelan oil within the Indian market. This effort is part of a larger strategy to reduce reliance on a small number of suppliers during a period of intense geopolitical volatility.
A spokesperson for the Ministry of External Affairs said the visit underscores India's intent to diversify its oil imports and deepen strategic ties with Venezuela [1].
The two leaders also explored expanding trade in non-energy sectors, specifically looking at how digital payment systems, and pharmaceutical exports could strengthen the economic bond between the two nations [1].
“"India welcomes Venezuela's partnership in ensuring energy security for our people."”
This diplomatic outreach signals India's shift toward a more aggressive diversification strategy for its energy needs. By strengthening ties with Venezuela, New Delhi is attempting to hedge against the supply disruptions caused by the ongoing conflict involving Iran, the U.S., and Israel, ensuring that one of the world's largest oil-consuming nations maintains its industrial output despite global market instability.
