Archive · 16 Nov 2025
Piyush Goyal Urges Reactivation of India-Venezuela Joint Committee
India's trade minister, Piyush Goyal, met with Venezuela's mining minister in Visakhapatnam.
He said India and Venezuela should work together more closely, like they used to, by restarting a special meeting group that hasn't met in ten years.
He also talked about how India's oil company is already working in Venezuela and suggested more business in mining, medicine, and cars.
Venezuela's minister wants to do more business with India too, especially in important minerals.
Later, Mr. Goyal visited a place where clothes are made by many women and a place where medical equipment is produced.
He invited other government officials to see these places and discussed ways to help factories produce more.
Union Minister Piyush Goyal called for the reactivation of the India-Venezuela joint committee mechanism, which last met a decade ago.
Goyal and Venezuelan Minister Hector Silva met on the sidelines of the 30th CII Partnership Summit in Visakhapatnam.
Discussions included deepening collaboration in mining, exploration, pharmaceuticals, and the automobile sector, with India engaging businesses looking to invest in Venezuela.
Venezuela expressed interest in expanding economic engagement with India beyond oil, focusing on critical minerals.
Piyush Goyal also visited Brandix India Apparel City and AMTZ, highlighting employment and production in these zones.
- Who
- Union Minister of Commerce and Industry Piyush Goyal and the Minister of Ecological Mining Development of Venezuela, Hector Silva
- What
- Discussed reactivating the India-Venezuela joint committee and expanding bilateral economic cooperation, with Goyal also visiting Brandix India Apparel City and AMTZ.
- When
- On the sidelines of the 30th CII Partnership Summit.
- Where
- Visakhapatnam, India; including visits to Brandix India Apparel City (BIAC) at SEZ Atchutapuram and Andhra Pradesh MedTech Zone (AMTZ).
- Why
- To enhance bilateral trade and investment, particularly in sectors beyond oil, and to explore relief measures for Special Economic Zones (SEZs).
India's Perspective
Venezuela's Perspective
Economic Engagement Focus
India's Perspective
India, represented by Piyush Goyal, seeks to deepen collaboration beyond oil, exploring opportunities in mining, exploration, pharmaceuticals, and the automobile sector. India also plans to engage with businesses interested in Venezuelan investments.
Venezuela's Perspective
Venezuela, represented by Hector Silva, is keen on expanding economic ties with India beyond oil, particularly in critical minerals, and aims to attract Indian investment.
Bilateral Mechanism
India's Perspective
India emphasizes reactivating the India-Venezuela joint committee, last met a decade ago, to foster collaboration.
Venezuela's Perspective
Venezuela expresses interest in expanding economic engagement, implying a willingness to strengthen bilateral ties through such mechanisms.
- Event
- 30th CII Partnership Summit
- Location of Summit
- Visakhapatnam
- Indian Minister
- Piyush Goyal
- Venezuelan Minister
- Hector Silva (Minister of Ecological Mining Development)
- Last Joint Committee Meeting
- A decade ago
- Ongoing Collaboration
- ONGC operations in Venezuela
- Brandix India Apparel City (BIAC) Employment
- 20,000 women