On November 15, 2025, Union Minister of Commerce and Industry, Shri Piyush Goyal, met with Minister of Ecological Mining Development of Venezuela, H.E. Mr. Hector Silva, on the sidelines of the 30th CII Partnership Summit held on November 14–15, 2025, in Visakhapatnam. The Venezuelan side expressed interest in expanding economic engagement with India beyond the oil sector, including cooperation in critical minerals and attracting Indian investment. Shri Goyal emphasized the need to reactivate the India–Venezuela Joint Committee Mechanism and noted that ONGC's ongoing operations in Venezuela provide scope for deeper collaboration in mining and exploration. He suggested that Venezuela may consider accepting the Indian Pharmacopeia to facilitate pharmaceutical trade and highlighted opportunities to enhance cooperation in the automobile sector. India would engage with businesses exploring investment prospects in Venezuela. The release ID is 2190279, and the visitor counter is 626. The release can be read in Urdu, Hindi, Marathi, Bengali, Gujarati, Tamil, and Telugu.
Key Entities Referenced
India-Venezuela Joint Committee Mechanism: A bilateral committee aimed at fostering economic cooperation between India and Venezuela.
Ministry of Commerce & Industry: The Indian ministry responsible for facilitating trade and investment, relevant as the source of the press release.
Venezuela: Country involved in bilateral discussions with India concerning critical minerals and investment.
Piyush Goyal: Union Minister of Commerce and Industry who advocated for reactivating the bilateral mechanism with Venezuela.
Visakhapatnam: Location where the CII Partnership Summit was held, during which the India-Venezuela meeting took place.
Ministry of Commerce & Industry
Piyush Goyal Calls for Reactivating Bilateral
Mechanism; Venezuela Eyes Critical Minerals,
Indian Investments
Posted On: 15 NOV 2025 12:45PM by PIB Delhi
Union Minister of Commerce and Industry, Shri Piyush Goyal, held a bilateral meeting with Minister
of Ecological Mining Development of Venezuela, H.E. Mr. Hector Silva, on the sidelines of the 30th
CII Partnership Summit held on 14–15 November 2025 in Visakhapatnam.
During the meeting, the Venezuelan side expressed interest in expanding economic engagement with
India beyond the oil sector, including cooperation in critical minerals and attracting Indian
investment.
Shri Goyal emphasized the need to reactivate the India–Venezuela Joint Committee Mechanism,
whose last meeting was held a decade ago. He noted that ONGC’s ongoing operations in Venezuela
provide scope for deeper collaboration in mining and exploration. He suggested that Venezuela may
consider accepting the Indian Pharmacopeia to facilitate pharmaceutical trade and highlighted
opportunities to enhance cooperation in the automobile sector. He added that India would engage with
businesses exploring investment prospects in Venezuela.
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AD/NS/AP
(Release ID: 2190279) Visitor Counter : 626
Read this release in: Urdu , ही , Marathi , Bengali , Gujarati , Tamil , Telugu