The U.S.-Venezuela conflict will have a negligible impact on India's trade with the South American country, think tank Global Trade Research Initiative (GTRI) said on Sunday (January 4, 2026). Also read: U.S.-Venezuela tension“India faces negligible impact, as trade with Venezuela has collapsed under sanctions, with crude imports down 81.3 per cent in FY2025 and overall bilateral trade remaining marginal,” the GTRI founder Ajay Srivastava said. As a result, Mr. Srivastava said India’s trade with Venezuela is now small and declining. In FY2025, India's total imports from Venezuela were just $364.5 million, of which crude oil accounted for $255.3 million, an 81.3% drop from $1.4 billion in crude imports in FY2024. India's exports to Venezuela were modest at $95.3 million, led by pharmaceuticals worth $41.4 million.

Source: The Hindu January 04, 2026 13:51 UTC