Venezuela, officially the Bolivarian Republic of Venezuela, is a highly urbanized country in South America with a population of approximately 27.23 million and a predominantly petroleum-based economy. The nation has a federal presidential republic structure and engages in trade with countries such as India, focusing on oil and various commodities. Cultural influences from diverse backgrounds shape Venezuelan society, with significant contributions from sports, social gatherings, and a rich culinary heritage.

2. • Venezuela at a Glance
• Geographical Conditions
• Climate
• Tourism
• Population and Culture
• Political and legal Environment
• Economy
• Trade With India
• Treaties and Agreements

4. VENEZUELA AT A GLANCE
• Venezuela officially called the Bolivarian Republic of Venezuela is
a country on the northern coast of South America.
• Venezuela is considered a state with extremely high biodiversity
• Venezuela is a federal presidential republic consisting of 23
states
• Venezuela is among the most urbanized countries in Latin
America
• The economy of Venezuela is largely based on the petroleum
sector and manufacturing. Venezuela is the fifth largest
member of OPEC by oil production.
• The approximate population of Venezuela is 27.23 million

5. GEOGRAPHICAL CONDITIONS
• Venezuela is located on the Northern South America, bordering the
Caribbean Sea and the North Atlantic Ocean.
• It has an area of 352,144 square miles (912,050 square kilometres)
• Andes Mountains and Maracaibo Lowlands in northwest; central
plains (llanos); Guiana Highlands in southeast
• Geographic Coordinates: 8 00 N, 66 00 W

6. Due to its location in a tropical area and a variable topography, the country enjoys a
tropical weather.
Venezuela’s rainy season runs from May to December. During this period, there is the
possibility of flooding in certain low-lying areas, The dry season is from December to
April, with January and February being the coolest months, and July and August being
the warmest

7. Required clothing
• Lightweight cottons and jeans will be suitable in most
locations, whether in the lowlands or on the coast. Pack a
sweater or jacket if you're planning to spend any time in the
Andes.

9. Angel Falls Venezuela – Largest Waterfall in The World

10. F
A
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Pla
ces

11. F
A
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S
Miguel Cabrera
(Baseball Player)
Lilimar Hernandez
(TV Actress)
Hugo Chavez
(Politician)
Carolina Herrera
(Fashion Designer)
Kiara
(TV Actress)
PE
OP
LE

12. FAMOUS SPORTS IN VENEZUELA
• Soccer is a national passion in Venezuela. In coastal areas, water sports such as swimming,
boating, and fishing are very popular.
• Inland, in the grassy plains known as Los Llanos, horseback riding is popular

13. RELATIONSHIPS
• Venezuelans are considered outgoing and friendly. The spirit of fun is evident in their love of
social gatherings and parties.
• Like many other Latin Americans, Venezuelans have an easy-going attitude toward time.
They are tolerant of late arrivals to meetings and social gatherings. Even business lunches
can be lengthy, lasting two or three hours.

14. POPULATION/PEOPLE FACTS AND CULTURE
• The approximate population of Venezuela is 27.23 million
• Life expectancy is 70 years for men and about 76 for women
• The literacy rate of the country is just over93%
• The official language is Spanish but many indigenous languages are
spoken as well
• 96% of the country is roman catholic( not all practicing)
• Population growth rate is just under1.5%
• The people of Venezuela have a rich cultural history that’s been shaped by
American Indian, Spanish, African, Italian, Portuguese, Arab, German, and
South American influences.

16. F
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F
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Pabellon Hallaca
Raceta Perlin

17. Political and legal environment
• President: Nicolas Maduro Moros.
• Venezuela is a democracy.
• Got Independence on 5th July, 1811 (from Spain).
• Latest constitution adopted on 15 December,
1999 , Effective from 30 December, 1999.
• Capital of Venezuela is Caracas.
• Govt. has 16 political parties with the
Unicameral National Assembly being the ruling
party.
• All Venezuelans over the age of 18 are allowed to
vote.
• Legal system is civil law system based on the
Spanish civil code.

18. CONTD…..
• Some political parties of Venezuela are United Socialist
Party of Venezuela, Communist Party of Venezuela, Brave
People’s Alliance etc.
• Some Political Pressure Groups are Bolivarian and Socialist
Workers Union, Venezuelan Confederation of Workers etc.

19. • National symbol is turpial (bird).
• National Flower is Cattleya Trianae.
• National Tree is Araguaney.
• National Anthem is “Gloria al Bravo Pueblo” or “Glory to the brave
people”

20. ECONOMY
• Venezuela remains highly dependent on oil revenues, which account for roughly
96% of export earnings.
• GDP is 1.6% in 2013. the rank of the country is 159th worldwide (in terms of
GDP).
• Agriculture products: corn, sorghum, sugarcane, rice, bananas, vegetables, coffee;
beef, pork, milk, eggs, fish.
• Industries: Petroleum, construction materials, food processing, textiles; iron ore
mining, steel, aluminium; motor vehicle assembly, chemical products, paper
products.

21. CONTD…..
• Unemployment rate is 7.9%(84).
• Population BPL is 31.6%.
• Budget: a) Revenues:$103.4 billion
b) Expenditures: $139.4 billion
• Inflation rate: 56.2%
• GDP- Composition by Sector of origin
a) Agriculture: 3.7%
b) Industry: 35.5%
c) Services: 60.8%
• Export-Partners are US (39.1%), China (14.3%), India (12%), Netherlands (7.8%), Cuba (4.6%)
• Import-Partners are US (31.7%), China (16.8%), Brazil (9.1%) and Columbia (4.8%)

22. CONTD…..
• GDP- Composition by end user
a) household consumption: 62.3%
b) government consumption: 13.2%
c) investment in fixed capital: 17.3%
d) investment in inventories: 5.7%
e) exports of goods and services: 25%
f) imports of goods and services: -23.5%
• Budget:
a) Revenues: $103.4billion
b) Expenditures: $139.4 billion
• Stock of FDI at Home- $49.9 billion
• Stock of FDI Abroad- $21.94 billion

23. CURRENCY OF VENEZUELA
• Currency of Venezuela is VENEZUELAN
BOLIVAR or VEF.
• Symbol: Bs
• Venezuelan Bolívar equals
• 9.80 Indian Rupee.

24. TRADE WITH INDIA
• Major Export Commodities: Mineral Fuels, Oils, Distillation
Products etc. (94%), iron and steel (1%), Ores, slags and ash
(1%), Organic chemicals (1%).
• Major Import Commodities: Machinery, nuclear reactors,
boilers, etc. (17%), Electrical, electronic equipment (9%),
Pearls, precious stones, metals, coins, etc. (9%), Mineral
fuels, oils, distillation products, etc (8%), Vehicles other
than railway, tramway (7%) .

25. Year 2006-07 2007-08 2008-09 2009-10 2010-11
EXPORT 126.08 142.80 184.51 183.96 176.00
%Growth 13.26 29.21 -0.30 -4.33
India’s Total Export 126414.05 163132.18 185295.36 178751.43 251136.19
%Growth 29.05 13.59 -3.53 40.49
%Share 0.10 0.09 0.10 0.10 0.07
IMPORT 748.90 389.91 4217.05 2885.76 5209.96
%Growth -47.94 981.56 -31.57 80.54
India’s Total Import 185735.24 251654.01 303696.31 288372.88 369769.13
%Growth 35.49 20.68 -5.05 28.23
%Share 0.40 0.15 1.39 1.00 1.41
Total Trade 874.97 532.70 4401.56 3069.72 5385.96
%Growth -39.12 726.27 -30.26 75.45
India’s Total Trade 312149.29 414786.19 488991.67 467124.31 620905.32
%Growth 32.88 17.89 -4.47 32.92
%Share 0.28 0.13 0.90 0.66 0.87
Trade Balance -59321.19 -88521.83 -118400.95 -109621.45 -118632.94
Export Import Data Bank Values in US $ Millions (Dated 21/09/2012)
Source: Ministry of Commerce & Industry, GoI

26. TOP INDIANCOMPANIES IN VENEZUELA
• ONGC Videsh Limited
• Tata Motors
• Claris Lifesciences Ltd.
• IPCA Laboratories Ltd.
• Reliance Group
• Stides Arco Labs.
• Dr Reddy’s Laboratories Ltd
• Mann India
• Core Healthcare
• Cipla Laboratories Ltd.
• Aurobindo Pharma
• Sun Pharma

27. TREATIES/AGREEMENTS
• MOU on cooperation in space science and technology
• MOU on Cooperation in SMEs, 2006
• An MOU on the establishment of an Indo-Venezuelan Joint
Commission.
• An MOU offering ONGC Videsh Ltd. (OVL) opportunities for oil and
gas exploration in Venezuela, including a heavy oil field in the
Orinoco belt, following which OVL opened its office in Venezuela.
• Agreement for Cooperation in Hydrocarbons Sector.
• MOU between IRCON and the Railway Authority of Venezuela.

28. • 1ST JCM: An MOU on the establishment of an Indo-Venezuelan Joint
Commission was signed during the visit of President Chavez to India
in 2005. Shri Rao Inderjit Singh, former Minister of State (External
Affairs), visited Venezuela in August 2005 for the first session of the
Joint Commission. The Joint Commission discussed cooperation in
areas such as energy, infrastructure and railways, low cost housing,
trade, science and technology, culture, poverty alleviation, consumer
protection and standards, health, agriculture and defence.

29. • 2nd Joint Commission Meeting (JCM): The 2nd JCM between India and
Venezuela was successfully held in Delhi on 20-21 December 2013.The Indian
side was led by Shri Salman Khurshid, Minister of External Affairs while the
Venezuelan side was led by Mr Elias Jaua, Foreign Minister, who headed a strong
delegation comprising 9Vice Ministers dealing with Petrochemicals, External
Trade, Agriculture, Food, Health, Air andWaterTransport,Telecommunications,
IT & Postal Services, Culture and Education.
• India offered full cooperation toVenezuela through exports and investments in
Pharmaceuticals, Science &Technology, Power, Engineering,Textiles, Autos and
Auto Parts in addition to the areas in whichVenezuela had expressed interest in
cooperating with India.

30. HYDROCARBONS
• A bilateral Agreement on cooperation in the hydrocarbons sector was
signed during President Chavez’s visit in March 2005, along with a
MoU offering ONGC Videsh Ltd. (OVL) opportunities for oil and gas
exploration in Venezuela, including a heavy oil field in the Orinoco
belt, following which OVL opened its office in Venezuela. On April 8,
2008, an agreement between OVL and CVP (subsidiary of PDVSA,
Venezuela’s national oil company) was signed for the creation of a
Joint Venture called “Petrolera IndoVenezolana SA” for production
and exploration of oil in the San Cristobal field in which OVL has a
40% stake while PDVSA has the remaining 60% share. OVL’s
investment in the San Cristobal Project is US$355.7 million.

31. CONTD…..
• The Cabinet Committee on Economic Affairs (CCEA) chaired by
Prime Minister Dr. Manmohan Singh, on March 19, 2010, approved
an initial investment of US$2.181 billion in the project.
• In another major development, Reliance Industries Limited (RIL)
signed a 15-year crude supply contract with PDVSA, Venezuelan´s
State Oil Company, under which Venezuelan will send up to
400,000 barrels of oil per day (bopd) to India (25 September).