VIENNA: Indian companies are showing a strong interest in exploring investment opportunities in Austria, particularly in areas such as Research and Development, artificial intelligence (AI), and software for sustainability to cater to the European market, industry experts revealed as Prime Minister Narendra Modi concluded his historic visit to the country.
At the India-Austria Business Forum in Vienna, organised by the Confederation of Indian Industry (CII) in collaboration with the Austrian Federal Economic Chamber and the Federation of Austrian Industries, Austria’s Minister of Labour and Economy, Martin Kocher, emphasised the value of the Indian startup ecosystem, describing it as one of the most vibrant in the world.
Kocher highlighted potential cooperation opportunities in renewable energy, smart cities, audio-visual and films, tourism, and other sectors.
Sanjiv Puri, President of CII, encouraged two-way cooperation in sustainable agriculture, water treatment, and food processing. “In critical areas of sustainability, cooperation in circularity, adaptation to weather disruptions, and biodiversity, Austrian technology partnerships can help India through AI, advanced sensors, and other new tech instruments,” said Puri.
R. K. Singh, Secretary of the Department for Promotion of Investments and Internal Trade, Ministry of Commerce and Industry, discussed India-Austria trade relations, noting that the two-way trade between the countries is worth about $2 billion and is relatively well-balanced.
“Most MNCs who have invested in India, including many European ones, have reaped rich dividends in terms of outperforming their parent companies in topline and bottom-line expansion, profitability, and enterprise value,” Singh stated
