NEW DELHI, June 4 (H.S.): India and Venezuela have placed strong emphasis on deepening long-term cooperation in the energy sector during the ongoing visit of Venezuela’s Acting President Delcy Rodríguez to India. Discussions during her meeting with Prime Minister Narendra Modi and the Venezuelan delegation also covered potential collaboration in mining and resource assessment.

Speaking at a press briefing on Thursday, Secretary (East) of the Ministry of External Affairs Rudrendra Tandon said Venezuela is among the countries with the world’s largest oil reserves, while India is a rapidly growing economy and a major consumer of crude oil. He noted that this creates strong complementarities between the two nations in the energy sector.

Tandon stated that Venezuela has emerged as the third-largest supplier of crude oil in India’s spot purchases this month. As a result, energy cooperation remained a key focus area in the discussions between Prime Minister Narendra Modi and the visiting Venezuelan delegation. He added that Venezuela’s energy sector is undergoing significant transformation and views India as a stable long-term demand partner. Cooperation opportunities exist across both upstream and downstream segments of the energy value chain.

The MEA Secretary further highlighted that Venezuela is not limited to energy resources alone, but is also rich in gold, diamonds, and other minerals. Both sides discussed potential collaboration in the mining sector, including resource assessment, which will be taken forward in future engagements.

He noted that Venezuela is moving towards sustainable economic development, opening up opportunities for Indian companies beyond energy, including mining, livestock, transport, agricultural equipment manufacturing, automobiles, and pharmaceuticals. Both sides explored ways to enhance economic cooperation and increase Indian corporate participation in these sectors.

According to Tandon, Acting President Rodríguez has been on a five-day visit to India since June 3, accompanied by a high-level delegation comprising ministers from foreign affairs, communications and information, economy and finance, science and technology, and transport.

She held official talks with Prime Minister Modi, followed by a working lunch. Earlier, she met External Affairs Minister S. Jaishankar, and is also scheduled to meet the Petroleum Minister.

On BRICS, Tandon said the subject was mentioned during the discussions, with Venezuela expressing appreciation for India’s and Prime Minister Modi’s leadership of the grouping. He described the talks between the two delegations as positive, pragmatic, and constructive. Venezuela also acknowledged India’s support during both challenging and favourable times and described India as one of its preferred partners going forward.

Rodríguez arrived in New Delhi on Wednesday for a five-day visit aimed at deepening bilateral relations. The visit comes at a time when India is facing new challenges related to energy security and is exploring alternative suppliers amid disruptions in the Strait of Hormuz region.

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Hindusthan Samachar / Jun Sarkar