US Attacks Venezuela, Arrests Maduro: Will India's Economy Be Affected?

• US launched ground attacks in Venezuela, arresting President Nicolas Maduro and wife Cilia Flores on narco-terrorism and drug trafficking charges.
• GTRI states the crisis is unlikely to significantly impact India's economy or energy security due to weakened bilateral ties and US sanctions since 2019.
• India's trade with Venezuela is now small and declining; FY25 imports were $36.45M, with crude oil at $25.53M, down from $1.4B in FY24.
• US objective was to gain control over Venezuela's vast oil reserves, which account for 18% of the world's total, exceeding US and Russia combined.
• GTRI warns of intensifying global competition for raw materials and energy, urging India to secure resources while maintaining strategic autonomy.

Why It Matters: Venezuela crisis unlikely to impact India's economy due to minimal trade and existing US sanctions.