PM Modi meets Venezuela's acting president; discusses energy security, trade
What's the story
Prime Minister Narendra Modi on Thursday met with the acting President of Venezuela, Delcy Rodriguez, in New Delhi. The two leaders discussed strengthening bilateral cooperation in energy security, trade and investment. The meeting comes after Rodriguez's talks with External Affairs Minister S Jaishankar and is part of her five-day visit to India.
Meeting focus
Energy security major topic of discussion
The leaders reviewed the overall India-Venezuela relationship and explored ways to strengthen economic ties. Energy security was a major topic of discussion as India ramps up crude oil imports from Venezuela due to disruptions in global energy supply routes. Both sides also looked at opportunities in pharmaceuticals, healthcare, transportation, and renewable energy sectors.
Future prospects
Venezuela looking to enhance engagement with Indian industry
The Ministry of External Affairs said the talks covered all aspects of bilateral relations, focusing on enhancing trade and investment while exploring new areas of cooperation. Venezuela is also looking to enhance its engagement with Indian industry, especially in the energy sector. EAM Jaishankar expressed confidence that Rodriguez's meetings with Indian leadership would give fresh momentum to their partnership.
Visit significance
Visit comes after Venezuelan President Maduro's capture by US forces
The visit is significant as it comes five months after Venezuelan President Nicolas Maduro was captured by US forces on January 3. After Maduro's capture, India resumed oil imports from Venezuela amid disruptions in West Asia. In May, India imported about 427,000 barrels per day from Venezuela, making it India's third-largest oil supplier after Russia and the UAE.