In a strategic move to bolster its energy security, Indian Prime Minister Narendra Modi met with Venezuela’s acting President Delcy Rodriguez in New Delhi. The discussions focused on expanding energy cooperation between the two nations, as Venezuela has recently become India’s third-largest supplier of crude oil.

Energy Security and Economic Opportunities

Rudrendra Tandon, a senior official in India’s foreign ministry, emphasized the importance of diversifying India’s energy sources. He noted that Venezuela presents a significant opportunity for India, especially given the disruptions in global energy supplies. The meeting also explored potential investments by Indian companies in Venezuela’s mining, critical minerals, pharmaceuticals, and automobile sectors.

India, which imports about 90% of its oil, has been actively seeking alternative sources due to the effective closure of the Strait of Hormuz by the ongoing Iran conflict. This strategic partnership with Venezuela is part of India’s broader plan to ensure a stable energy supply.

Further Diplomatic Engagements

During her visit, Rodriguez also engaged with India’s foreign minister, Subrahmanyam Jaishankar, and is scheduled to meet Petroleum Minister Hardeep Singh Puri. Her itinerary includes visits to key facilities in India’s energy, pharmaceutical, and automobile sectors, underscoring the potential for deeper economic ties between the two countries.

As the world’s third-largest oil importer, India’s proactive approach in securing energy resources reflects its commitment to maintaining economic stability and growth amid global uncertainties.

Original reporting: KTBS 3 (Shreveport) — read the source article.