India Deepens Energy Ties With Venezuela as Modi Meets Acting President
NEW DELHI (AP) — Indian Prime Minister Narendra Modi held talks with Venezuela’s acting President Delcy Rodriguez on Thursday, signaling a strategic push by New Delhi to strengthen energy ties with the oil-rich South American nation as global supply routes face mounting pressure.
Rudrendra Tandon, a senior foreign ministry official, told reporters the discussions in New Delhi centered on expanding energy cooperation. He noted that Venezuela has become India’s third-largest crude oil supplier in recent weeks, a shift that underscores India’s urgency to secure alternatives to traditional suppliers.
“We are aggressively seeking new sources of crude oil and energy to strengthen our energy security,” Tandon said. “Venezuela represents an opportunity and is very much part of our plans.”
The push comes as India, the world’s third-largest oil importer, relies on imports for about 90% of its crude needs. Roughly half of those shipments traditionally pass through the Strait of Hormuz — a choke point that has been severely disrupted amid the ongoing conflict involving Iran. Diversifying away from that corridor has become a top priority for New Delhi.
Modi and Rodriguez also explored Indian investments in Venezuela’s mining, critical minerals, pharmaceuticals, and automotive sectors, according to Tandon. The meeting reflects a broader recalibration of India’s foreign policy as it courts resource-rich nations outside the Middle East.
Rodriguez, who also met Indian External Affairs Minister Subrahmanyam Jaishankar on Thursday, is scheduled to hold talks with Petroleum Minister Hardeep Singh Puri. Her itinerary includes visits to facilities in India’s energy, pharmaceutical and automobile sectors, signaling a deepening of bilateral economic engagement beyond just crude.
Analysts note that while Venezuela’s oil output has been hampered by U.S. sanctions and years of underinvestment, its renewed role as a supplier for India could open the door for New Delhi to gain a foothold in Latin America’s energy landscape — especially as global competition for non-Middle Eastern crude intensifies.