Ministry of Commerce & Industry in its latest notification has said that Venezuela has expressed interest in expanding economic engagement with India beyond the oil sector, including cooperation in critical minerals and attracting Indian investment.
During a bilateral meeting with Minister of Ecological Mining Development of Venezuela, H.E. Mr. Hector Silva, Union Minister of Commerce and Industry, Piyush Goyal has also emphasized the need to reactivate the India-Venezuela Joint Committee Mechanism, whose last meeting was held a decade ago.
Minister of Commerce and Industry further 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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