Venkat lifted 136kg in snatch to win a silver and his total effort of 296 kg (136+160) fetched him a bronze.
Russia's Khetag Khugaev won the gold in total lift with an effort of 312kg (144+168) while Ayat Amirbekov of Kazakhstan bagged the silver with 297kg (136+161).
With the two medals today, India's tally in the championships swelled to two silver and a bronze. Jamjang Deru had won a silver in the boys 50kg category on the opening day.
In girls 63kg category, Manpreet Kaur finished 16th in total lift with an effort of 157kg (68+89) while Pompi Saikia was 18th with 152kg (68+84).
The Youth World Championships serves as a qualification event for 2014 Youth Olympic Games.