PM Modi invites Austrian companies to invest in India

New Delhi: Prime Minister Narendra Modi on Wednesday invited Austrian companies to invest in India as he highlighted the potential for bilateral collaborations in infrastructure, energy, emerging technologies and other sectors.

Modi arrived Vienna, Austria’s capital, from Moscow after meeting with Russian President Vladimir Putin on Tuesday evening on a two-day visit, the first by an Indian prime minister in over 40 years.

Modi and Austrian Chancellor Karl Nehammer jointly addressed renowned Austrian and Indian CEOs at a round table business meeting in Hofburg Palace here.

"PM highlighted the significant potential for collaboration between Indian and Austrian companies in various sectors, including infrastructure, renewable energy, green sectors, new and emerging technologies, fintech, startups, and innovation, among others," the Indian Ministry of External Affairs said in a social media post.

The Prime Minister invited Austrian companies to invest in India, it added.

To foster innovation and entrepreneurship between the countries, the IndiaAustria Startup Bridge was launched in February 2024.

Indo-Austria bilateral trade for 2023 (January-December) was USD 2.93 billion. Indian exports to Austria stood at USD 1.52 billion and imports were USD 1.41 billion.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)