NEW DELHI – Indian Prime Minister Narendra Modi engaged in discussions with Venezuela’s acting President Delcy Rodriguez on Thursday, June 4, 2026, in New Delhi, signaling India’s strategic pivot to deepen energy ties with the oil-rich South American nation. The high-level meeting underscores India’s aggressive pursuit of diversified energy sources amidst ongoing disruptions in global energy supplies, particularly impacting its traditional routes.
Strengthening Energy Cooperation
Rudrendra Tandon, a senior official in India’s foreign ministry, confirmed that the talks primarily focused on enhancing energy cooperation between the two countries. He highlighted Venezuela’s recent emergence as India’s third-largest crude oil supplier, a significant development for the world’s third-largest oil importer. Tandon explicitly stated that India is “aggressively seeking new sources of crude oil and energy to strengthen its energy security,” adding that Venezuela represents an “opportunity and is very much part of our plans.” This move is critical for India, which imports approximately 90% of its oil requirements.
Beyond Oil: Investment and Diversification
The discussions between Prime Minister Modi and acting President Rodriguez extended beyond crude oil, exploring broader economic engagement. Opportunities for Indian companies to invest in various Venezuelan sectors were a key agenda item. These sectors include mining, critical minerals, pharmaceuticals, and automobiles, as reported by Tandon.
Acting President Rodriguez’s visit itinerary further emphasized the strategic nature of the engagement. She also held talks with India’s foreign minister, Subrahmanyam Jaishankar, on Thursday and is scheduled to meet with Petroleum Minister Hardeep Singh Puri. Additionally, Rodriguez is expected to visit facilities within India’s energy, pharmaceutical, and automobile sectors, providing a firsthand look at potential collaboration areas.
Geopolitical Imperatives Driving Supply Shifts
India’s intensified engagement with Venezuela comes as the South Asian giant has substantially increased its imports of Venezuelan crude in recent months. This strategic shift is partly driven by geopolitical realities affecting global energy transit. Around half of India’s vital oil supplies traditionally pass through the Strait of Hormuz, a crucial shipping route that has been “effectively closed by the Iran war,” according to the source. This disruption necessitates a proactive approach to securing alternative and reliable energy channels, positioning Venezuela as an increasingly vital partner in India’s energy security matrix.
This proactive diplomatic and economic outreach to Venezuela highlights India’s pragmatic strategy to safeguard its energy future and diversify its supply chains, mitigating risks from volatile geopolitical landscapes and ensuring sustained economic growth.
