Trade relations between India and Venezuela are still in their infancy. India is at a stronger position, although exports amounted to $74.34 million (0.1 % of total Indian exports) in the period from April to December 2005-06 and imports being $8.63 million (0.008% of total Indian imports) in the same period. Undoubtedly, the larger slice of the pie comes from oil trading. As per the latest estimates, bilateral trade is expected to reach $1 billion this year, thanks to exports of Venezuelan crude oil. Deepak Bhojwani, Ambassador of India in Venezuela states, “We are seeking energy security and Venezuela, a sister country, can provide it.”
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Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
