The US-Venezuela conflict will have a negligible impact on India's trade with the South American country, think tank GTRI said on Sunday. ADVERTISEMENT"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 Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. As a result, Srivastava said India's trade with Venezuela is now small and declining. In FY2025, India's total imports from Venezuela were just USD 364.5 million, of which crude oil accounted for USD 255.3 million, an 81.3 per cent drop from USD 1.4 billion in crude imports in FY2024. India's exports to Venezuela were modest at USD 95.3 million, led by pharmaceuticals worth USD 41.4 million.

Source: The Telegraph January 04, 2026 11:45 UTC