In a meeting with Venezuela’s Minister of Ecological Mining Development, Hector Silva, in Visakhapatnam, Andhra Pradesh state, Goyal noted that the ongoing operations of the Venezuelan Petroleum and Natural Gas Corporation offer the possibility of deeper collaboration in mining and exploration, the Indian Ministry of Commerce and Industry said.

The Indian minister suggested that Venezuela could consider adopting the Indian Pharmacopoeia to facilitate pharmaceutical trade and highlighted opportunities to strengthen cooperation in the automobile sector.

He added that India would contact companies exploring investment opportunities in Venezuela.

Indian authorities noted that the Venezuelan delegation showed interest, during the meeting, in expanding economic cooperation with India beyond the oil sector, including in critical minerals and attracting investment from the South Asian nation.

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