As several countries across the globe criticised the US military attack on Venezuela on Saturday, industry watchers said that India’s economic interests in the South American country are minimal and it is not dependent on Venezuela for oil.

The bilateral trade between the nations was $1.175 billion in 2023-24, according to information available on the website of the Embassy of India in Caracas.

The main items of India’s exports to Venezuela are mineral fuels and oils and products of their distillation; bituminous substances, pharmaceutical products, cotton, nuclear reactors, boilers, machinery and mechanical appliances, electrical machinery and equipment; sound recorders and reproducers, television image and sound recorders and reproducers, articles of apparel and clothing accessories and miscellaneous chemical products. According to industry experts, the bilateral trade is very minimal, and the country is now dependent on Venezuela for crude oil imports.

The main items of India’s imports from Venezuela are mineral fuels and oils and products of their distillation, bituminous substances, mineral waxes, iron and steel, aluminium, edible vegetables and certain roots and tubers, copper and articles thereof, lead and articles thereof, zinc and articles thereof, wood and articles of wood, among others, according to the Embassy.