Union Minister for Finance and Corporate Affairs Nirmala Sitharaman encouraged Austrian companies to invest in India during her visit to Vienna. She highlighted the bright prospects for a robust economic and commercial partnership between India and Austria, citing India’s significant progress due to reforms that enhance economic growth, equity, and ease of doing business.
Addressing the India-Austria Business Roundtable Conference, she showcased emerging opportunities in sectors such as green hydrogen, electric vehicles, digital public infrastructure, and innovation. Sitharaman acknowledged the establishment of competence centers by Austrian firms in India to access its skilled digital and IT workforce. She recalled Prime Minister Narendra Modi’s visit last year as pivotal for enhancing bilateral relations.
In her meetings with Austrian economic and finance ministers, she explored initiatives to bolster cooperation in financial, economic, trade, and investment areas. Emphasizing the mutual benefits of leveraging complementary capabilities, she noted that both nations prioritize startups and innovation, with India having over 110 unicorns and a thriving startup ecosystem.
