<h1>Trade imbalance: Venezuela-dominated crude imports and foreign exchange controls hinder Indian exports and payment repatriation.</h1> Trade between India and Venezuela shows a persistent trade imbalance caused by India's import reliance on Venezuelan crude oil and falling global oil prices reducing trade value. Indian exports have declined due to Venezuela's financial crisis and foreign exchange controls that impede repatriation of income; India has sought resolution of outstanding payments with no response and is targeting export-competent products to strengthen exports.