Goyal Seeks Revival of India–Venezuela Panel

• Piyush Goyal meets Venezuelan mining minister on sidelines of CII Partnership Summit
• Venezuela seeks deeper ties beyond oil, eyes critical minerals and Indian investments
• Goyal calls for reactivating India–Venezuela Joint Committee Mechanism after a decade
• India highlights opportunities in mining, pharma, and automobile sectors

GG News Bureau
Visakhapatnam 15th Nov: Union Minister of Commerce and Industry Piyush Goyal met Venezuela’s Minister of Ecological Mining Development, Hector Silva, during the 30th CII Partnership Summit in Visakhapatnam, where both sides explored opportunities to expand bilateral economic engagement.

The Venezuelan delegation expressed interest in deepening cooperation with India beyond the traditional oil partnership. This included potential collaboration in critical minerals and efforts to attract Indian investments into mining and related sectors.

Goyal stressed the need to revive the India–Venezuela Joint Committee Mechanism, which has been inactive for nearly a decade. He said the structured platform could help both nations address pending issues and identify new avenues of cooperation.

Highlighting ONGC’s ongoing ventures in Venezuela, Goyal said the existing presence creates scope for expanded collaboration in mining and exploration. He also suggested that Venezuela consider adopting the Indian Pharmacopeia to streamline pharmaceutical trade between the two countries.

The Union Minister pointed to emerging opportunities in the automobile sector and said India would work with businesses evaluating investment prospects in Venezuela.