India and Venezuela perfect complements for long-term energy cooperation: MEA
New Delhi, June 4
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.
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."
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.
— ANI
Reader Comments
Interesting move, but Venezuela is still under US sanctions. How will India manage that politically? Hope we don't get caught in crossfire between Washington and Caracas.
Finally! India needs to build deep partnerships in Latin America. Venezuela, Brazil, Guyana - all have resources we need. This is about time. The MEA is doing good work here.
Perfect complementarity indeed. We need crude, they need investment and technology. Also, pharma and agri equipment export opportunities? That's a win-win. But let's be cautious about political stability there.
Good to see India engaging with the Global South. But Venezuela's economy is still struggling. How will Indian companies get paid? Barter system for crude? Would like more clarity on commercial terms.
As a student of international relations, this is a masterstroke. India is hedging its energy bets perfectly. Venezuela gets a reliable buyer, we get supply security. Modi ji's global outreach is impressive.
"Stood with Venezuela in bad times as well as good times" - that's the kind of reliable partner India is becoming globally. No wonder they see us as preferred partner. 👏
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