Sitharaman invites Austrian firms to invest in India

Vienna

Finance Minister Nirmala Sitharaman has urged Austrian companies to invest in India, calling for deeper economic ties between the two nations. During her visit to Vienna on Friday, she stressed that sectors like electric vehicles, renewable energy, startups, and fintech hold great promise for collaboration.

She said PM Modi’s 2024 visit to Austria had strengthened bilateral ties and her current trip reaffirmed India’s commitment to expanding partnerships. Sitharaman highlighted India’s booming startup scene, strong manufacturing base, and skilled talent as key reasons for investment.

She also invited Austrian Finance Minister Markus Marterbauer to visit India with a business delegation to explore opportunities. She noted that Austrian firms already benefit from India’s digital talent, and more could be achieved with cooperation in areas like fintech and semiconductors.

Austria’s Finance Ministry echoed the sentiment, saying the visit underscored the value of India-Austria economic relations. Marterbauer pointed out the global uncertainty caused by US tariff policies and praised India as the fastest-growing G20 economy. He said fair trade would benefit both nations.

State Secretary Barbara Eibinger-Miedl also stressed that Austria values international cooperation. She noted India’s size and growth make it a valuable trade partner, especially in technology-driven sectors.

The discussions touched on India’s reforms, ease of doing business, and potential for innovation-driven collaborations. Austrian officials see India as a key partner in securing economic growth and global market access.

Sitharaman emphasized that India offers a gateway to Asia and the Global South, and encouraged Austrian firms to tap into India’s National Investment and Infrastructure Fund and explore mutual startup ventures.