India is aggressively positioning itself as a gateway to Asia and the Global South and a strategic economic partner. Finance Minister Nirmala Sitharaman has encouraged Austrian businesses to take advantage of India's growing prospects in digital infrastructure, green energy, electric vehicles, and innovation.
During her joint press conference with Austria’s Minister for Economic Affairs, Energy and Tourism, Wolfgang Hattmannsdorfer, Sitharaman stressed: “India is an excellent gateway to Asia and the global South.” The visit takes place at a time when supply chains are changing due to US-China trade concerns, creating opportunities for more varied bilateral relationships.
"Several Austrian companies have set up capability centers in this country," the minister added, highlighting India's strong industrial skills and qualified workforce as complementary characteristics that can strengthen economic cooperation.
Additionally, India and Austria have determined that renewable energy, water management, digital technology, infrastructure, and electric transportation are important areas of cooperation.
On innovation-led growth, Sitharaman noted: “India has over 110 unicorns and several thousand successful start-ups.” Recognizing Austria’s strong start-up ecosystem, she added, “There are opportunities here for rapid progress.”
This newfound momentum places India and Austria as viable partners for long-term industrial and technological partnership, with strategic alignment across sectors and a shared goal in growing innovation and sustainability.
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