Venezuela keen to increase cooperation in critical minerals sector with India

Venezuela has expressed keen interest in enhancing cooperation with India in critical minerals sector and attract investments, the commerce ministry said on Saturday (November 15, 2025).

It was discussed in a meeting between Commerce and Industry Minister Piyush Goyal and Minister of Ecological Mining Development of Venezuela Hector Silva in Visakhapatnam, Andhra Pradesh.

“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,” it said.

Mr. Goyal emphasised 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.

In a separate statement, the Ministry said National Industrial Corridor Development Corporation Limited, Logistics Data Services Limited, and the Andhra Pradesh government signed an MoU to digitize the logistics landscape in Andhra Pradesh by leveraging the Unified Logistics Interface Platform (ULIP).

As part of the initiative, an integrated digital platform will be developed and implemented to provide government and private stakeholders in Andhra Pradesh with real-time visibility into the state’s logistics operations and performance metrics.

The platform aims to enhance coordination, improve efficiency and support informed decision-making across sectors, enabling stakeholders to access real-time information seamlessly.