The India-Austria Business Forum held in Vienna highlighted the strong framework for bilateral cooperation across various sectors. R K Singh, Secretary of the Department for Promotion of Investments and Internal Trade in India, emphasized the two-way trade between India and Austria, valued at USD 2 billion, as well as the importance of sustainable growth. The event, organized by the Confederation of Indian Industry (CII) in collaboration with Austrian agencies, coincided with Prime Minister Narendra Modi’s visit to Austria, fostering discussions on strategic partnerships and mutual growth opportunities. Martin Kocher, Minister of Labour and Economy in Austria, praised India’s vibrant startup ecosystem and emphasized key areas such as renewable energy, smart cities, and tourism for potential joint ventures. Sanjiv Puri, President of CII, highlighted Indian companies’ interest in investing in Austria, particularly in research and development, artificial intelligence, and software targeted at the European market.
R Dinesh, Immediate Past President of CII, stressed the importance of collaboration in sustainable agriculture, water treatment, and food processing, while also pointing out opportunities in manufacturing, construction, logistics, and the India-EU trade agreement. Tejpreet Chopra, President and CEO of Bharat Light & Power Private Ltd., highlighted the potential for innovation, automation, and startup opportunities between India and Austria, emphasizing the potential for technological exchange. Chandrajit Banerjee, Director General of CII, called for enhanced bilateral cooperation through short-term mobility and technical training programs to address skill gaps in Austria. Austrian companies shared their experiences and successes in sectors like renewable energy, automotive, space, and robotics, while Indian startups showcased their capabilities, further enriching the dialogue on fostering innovation and entrepreneurship.
The dialogue at the India-Austria Business Forum showcased the growing ties between the two countries, with a focus on sustainable growth and collaboration in key sectors. The emphasis on bilateral trade dynamics, strategic partnerships, and mutual growth opportunities underscores the desire of both nations to strengthen their economic relationship. The recognition of India’s vibrant startup ecosystem and the potential for technological exchange highlights the innovation and entrepreneurial spirit driving bilateral cooperation. The interest of Indian companies in investing in Austria, particularly in research and development and software development for the European market, reflects the expanding opportunities for cross-border business partnerships.
The focus on sectors like renewable energy, smart cities, and tourism as areas for joint ventures underlines the commitment of both countries to address pressing global challenges through cooperation and innovation. The call for enhanced bilateral cooperation through training programs and skill development initiatives demonstrates the commitment to addressing skill gaps and fostering a skilled workforce in both countries. The sharing of experiences and successes by Austrian companies in sectors like renewable energy, automotive, space, and robotics, as well as the showcasing of capabilities by Indian startups, further strengthens the foundation for collaboration and exchange of best practices.
Overall, the India-Austria Business Forum in Vienna provided a platform for meaningful discussions and interactions between businesses from both countries, highlighting the vast potential for cooperation and growth. The event served as a catalyst for fostering closer ties between India and Austria, focusing on areas of mutual interest and benefit. The commitment to sustainable growth, innovation, and partnership showcased at the forum sets the stage for deeper collaboration and economic integration between the two nations. With a shared vision for a prosperous future, India and Austria are poised to unlock new opportunities and drive economic development through strategic cooperation and joint ventures.
