New Delhi: Finance minister Nirmala Sitharaman Friday called on Austrian companies to harness the many opportunities that India offers, pitching the country as an "excellent gateway to Asia and the global South" and underscoring investment potential in green hydrogen, electric vehicles, digital public infrastructure and innovation.
The minister also acknowledged that Austria offers "interesting pathways for Indian firms to access Central and East Europe", suggesting that both can capitalise on each other's strength and further bolster economic ties.
Sitharaman was addressing a press conference alongside Austrian minister for economic affairs, energy and tourism Wolfgang Hattmannsdorfer in Vienna.
Both the countries agreed to leverage complementarities--India has the manufacturing base, scale and human resources, while several Austrian companies have set up capability centres in this country, the minister said.
Sitharaman's trip to Austria comes at a time when global economic growth faces significant downside risks from an escalating trade war between the US and China following the Trump administration's extra tariff on the second-largest economy and Beijing's retaliatory steps.
The minister said both India and Austria have identified priority areas--such as green and digital technologies, infrastructure, renewable energy, water management, life sciences, electric mobility and transportation start-ups--to enhance their economic relationship. Start-ups and innovations are a key priority for both the governments, she said.
India has over 110 unicorns and several thousand successful start-ups, Sitharaman said. Austria, too, has a well-recognized start-up ecosystem and there are opportunities here for rapid progress, she added.
The minister also acknowledged that Austria offers "interesting pathways for Indian firms to access Central and East Europe", suggesting that both can capitalise on each other's strength and further bolster economic ties.
Sitharaman was addressing a press conference alongside Austrian minister for economic affairs, energy and tourism Wolfgang Hattmannsdorfer in Vienna.
Both the countries agreed to leverage complementarities--India has the manufacturing base, scale and human resources, while several Austrian companies have set up capability centres in this country, the minister said.
Sitharaman's trip to Austria comes at a time when global economic growth faces significant downside risks from an escalating trade war between the US and China following the Trump administration's extra tariff on the second-largest economy and Beijing's retaliatory steps.
The minister said both India and Austria have identified priority areas--such as green and digital technologies, infrastructure, renewable energy, water management, life sciences, electric mobility and transportation start-ups--to enhance their economic relationship. Start-ups and innovations are a key priority for both the governments, she said.
India has over 110 unicorns and several thousand successful start-ups, Sitharaman said. Austria, too, has a well-recognized start-up ecosystem and there are opportunities here for rapid progress, she added.
You may also like
Killer tigress of Bandhavgarh captured, kept under vigil & medical supervision
Man Utd director role 'terminated' as Sir Jim Ratcliffe continues Old Trafford overhaul
Jamie Oliver's 'wonderful' lemon tart is 'made from scratch in just 30 minutes'
BBC Escape to the Country buyers miss out on dream home after pointing out major 'deal breaker'
Stalin to chair consultative meetings with TN varsities' VCs, Registrars on April 16
