Venezuela’s Acting President, Delcy Rodríguez, arrives in India on Wednesday on a five-day visit, with energy cooperation expected to dominate discussions as New Delhi seeks to diversify crude oil supplies amid disruptions in global energy markets.
Rodríguez is scheduled to hold talks with Prime Minister Narendra Modi and senior Indian officials on a broad range of issues, including energy, trade, investment, pharmaceuticals, healthcare, transportation and renewable energy. The visit comes at a time when India has significantly increased crude oil purchases from Venezuela.
India emerged as the second-largest buyer of Venezuelan crude in May, importing about 4,27,000 barrels a day. Reliance Industries has been among the largest purchasers of Venezuelan oil in recent months as refiners look for alternative sources of supply.
The visit assumes added significance as India faces challenges in securing crude supplies following disruptions to shipping routes linked to the ongoing conflict involving Iran. With the Strait of Hormuz remaining a critical route for India's oil imports, New Delhi has been exploring alternative sources to strengthen energy security.
India resumed imports of Venezuelan crude earlier this year after a period of interruption. The revival of trade followed the easing of US restrictions on Venezuelan oil exports and a new oil supply arrangement between Washington and Caracas.
Apart from official engagements in New Delhi, Rodríguez is expected to meet executives from India's energy sector in Mumbai to explore opportunities for deeper cooperation in oil and gas.
The Venezuelan leader is accompanied by a high-level delegation that includes ministers responsible for foreign affairs, economy and finance, science and technology, communications, and transportation. The delegation is also expected to visit industrial and technology facilities in India.
