[1] Chávez met with Indian President APJ Abdul Kalam and Prime Minister Manmohan Singh.

The two countries signed six agreements including one to establish a Joint Commission to promote bilateral relations and another on cooperation in the hydrocarbon sector.

The Rajya Sabha, the upper house of Parliament, observed a minute's silence to mark his death.

Ambassador Smita Purushottam represented India at the swearing-in ceremony of Chávez's successor Nicolás Maduro on 19 April 2013.

The main commodities exported by India to Venezuela are refined petroleum, packaged medicaments, blood, antisera, vaccines, toxins and cultures, Heavy Mixed Woven Cotton, machinery such as Electric Generating sets and Engine parts and Pesticides.

[7] During President Chávez's visit to India in March 2005, the two countries signed a bilateral agreement on co-operation in the hydrocarbon sector and an MoU granting ONGC Videsh Ltd (OVL) rights for oil and gas exploration in Venezuela.

In April 2008, OVL and PDVSA established a joint venture called Petrolera IndoVenezolana SA for exploration and production oil in the San Cristóbal field.

[8][9] Reliance Industries Limited (RIL) secured a 15-year crude supply contract with PDVSA to import 400,000 barrels of oil per day,[5] for processing at its twin refineries at Jamnagar, Gujarat.

[2] India and Venezuela signed an agreement to double production at the San Cristóbal oil field in November 2016.

[12] Several Indian pharmaceutical firms such as Sun Pharma, Dr Reddy's Laboratories, Glenmark, Claris, and Cipla operate in Venezuela.

The Venezuelan market is so important to Indian firms that domestic politics can affect their share prices.

For instance, shares of Glenmark and Dr Reddy's fell by 5% and 2% respectively following the 2015 general elections and the expectation of currency devaluation in Venezuela.