Prime Minister Narendra Modi on Thursday described Venezuela as a "valued partner" in Latin America and said India's growing cooperation with the South American nation holds "immense importance" for the Global South.
PM Modi met Venezuelan Acting President Delcy Rodriguez at Hyderabad House in New Delhi, where the two leaders reviewed the full spectrum of bilateral ties and discussed expanding cooperation in energy, critical minerals, trade, investment, technology, agriculture, healthcare, automobiles and people-to-people exchanges.
"Happy to meet with Acting President of Venezuela, Ms Delcy Rodriguez. We had extensive discussions on expanding our cooperation in energy, critical minerals, technology, agriculture, health and people-to-people ties," PM Modi said in a post on X.
"As a valued partner in Latin America, our close cooperation with Venezuela holds immense importance for the Global South. We will continue to work together for the mutual benefit of the people of our nations," he added.
Rodriguez is on a working visit to India from June 3 to 6 and is accompanied by a high-level ministerial delegation, including ministers handling foreign affairs, economy and finance, science and technology, transportation, and communication.
Addressing a media briefing, MEA Secretary (East) Rudrendra Tandon said the discussions were "very substantive and businesslike", with a major focus on strengthening the energy partnership between the two countries.
Tandon noted that Venezuela possesses some of the world's largest oil reserves, while India remains one of the fastest-growing energy consumers. He described the relationship as a "perfect complementarity", adding that Venezuela has emerged as India's third-largest supplier of crude oil this month through spot purchases.
He said both sides explored opportunities for cooperation across the energy value chain, including upstream and downstream sectors, as Venezuela's energy industry undergoes significant transformation.
Beyond energy, the leaders discussed expanding economic engagement in mining, critical minerals, animal husbandry, transportation, agricultural equipment, automobiles and pharmaceuticals. Tandon said Venezuela, being a resource-rich nation, offers significant opportunities for Indian companies seeking to enter new markets.
The two sides also exchanged views on regional and global issues and reaffirmed their commitment to deepening bilateral ties while advancing the interests of the Global South.
As part of the visit, the Venezuelan delegation will tour facilities linked to India's energy, pharmaceutical and automobile sectors to explore avenues for future collaboration. Indian public sector companies already have significant investments in Venezuela's energy sector and are keen to expand their presence further.
