FM Sitharaman rolls out red carpet for Austrian companies to invest in India

FINANCE Minister Nirmala Sitharaman on Friday invited Austrian companies to invest in India and highlighted the huge potential for strengthening bilateral economic ties between the two countries in renewable energy, electric vehicles, innovations and startups.

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Addressing a press conference, Sitharaman said the highly successful visit of Prime Minister Narendra Modi to Austria in July 2024 was a milestone in the India-Austria partnership, especially in elevating our economic and commercial linkages to a higher trajectory.

“Prime Minister Modi had emphasised the political will of the Government of India to expand our partnership with Austria. My visit to Vienna is a reaffirmation of the PM's vision to work towards realising the fullest possible potential of our bilateral relationship with Austria,” Sitharaman added.

She highlighted the opportunities for investment and cooperation between startups in India and Austria, particularly in the field of fintech.

The Finance Minister said startups and innovations are a key priority for both countries. India has over 110 unicorns and thousands of successful startups, while Austria also has a well-recognised startup ecosystem. Strengthening the relations would result in rapid progress in the sector, she added.