Union Minister Piyush Goyal meets Venezuelan Minister of Ecology and Mines Improvement Hector Silva on the sidelines of CII Partnership Summit 2025 in Visakhapatnam, Andhra Pradesh on October 14, 2025. Picture credit score: X/@PiyushGoyal (by way of ANI)
The Ministry of Commerce introduced on Saturday (November 15, 2025) that Venezuela has expressed sturdy curiosity in strengthening cooperation with India and attracting funding in vital mineral sectors.
The matter was mentioned throughout a gathering between Commerce and Trade Minister Piyush Goyal and Venezuelan Minister of Ecology and Mines Improvement Hector Silva in Andhra Pradesh’s Visakhapatnam.
“Throughout the assembly, the Venezuelan facet expressed curiosity in increasing financial engagement with India past the oil sector, together with cooperation in key mineral fields and attracting Indian funding,” the assertion mentioned.
Mr. Goyal emphasised the necessity to reinvigorate the India-Venezuela Joint Committee mechanism, whose final assembly was held 10 years in the past.
He identified that ONGC’s continued operations in Venezuela present scope for deeper cooperation in mining and exploration.
He instructed that Venezuela could take into account accepting the Indian Pharmacopoeia to facilitate commerce in prescribed drugs, and highlighted alternatives to strengthen cooperation within the automotive sector.
In a separate assertion, the ministry mentioned the Nationwide Industrial Hall Improvement Company, Logistics Information Companies Ltd and the Authorities of Andhra Pradesh have signed a memorandum of understanding to digitize the logistics panorama in Andhra Pradesh by leveraging the Unified Logistics Interface Platform (ULIP).
As a part of this initiative, an built-in digital platform will likely be developed and carried out to offer Andhra Pradesh authorities and personal stakeholders real-time visibility into the state’s logistics operations and efficiency indicators.
The platform goals to boost coordination, enhance effectivity, help knowledgeable decision-making throughout sectors, and provides stakeholders seamless entry to real-time data.
