Venezuela has expressed keen interest in enhancing cooperation with India in the critical minerals sector and attract investments, the Union Commerce Ministry said on Saturday.
The issue was discussed in a meeting between Commerce and Industry Minister Piyush Goyal and Venezuela’s Minister of Ecological Mining Development Hector Silva here. "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," the ministry said.
Goyal emphasised the need to reactivate the India-Venezuela Joint Committee Mechanism, whose last meeting was held a decade ago. He noted that the ONGC's ongoing operations in Venezuela provide scope for deeper collaboration in mining and exploration. He suggested that Venezuela might consider roping in the Indian Pharmacopeia to facilitate pharmaceutical trade and highlighted opportunities to enhance cooperation in the automobile sector.
In a separate statement, the ministry said the National Industrial Corridor Development Corporation Limited, Logistics Data Services Limited and the Andhra Pradesh government signed an MoU to digitise 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.
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