April 16, 2025
At the India-Austria Business Roundtable in Vienna, Finance Minister Nirmala Sitharaman encouraged Austrian companies to invest in India, citing progress on growth, equity, and ease of doing business
Sitharaman highlighted India’s strong startup ecosystem, which has over 110 unicorns, and underlined that innovation and entrepreneurship are shared priorities for both countries
She noted that Austrian firms had already established capability centres in India to tap into its digital and IT talent base
In bilateral meetings, Sitharaman and Austrian Finance Minister Markus Marterbauer discussed strengthening ties amid global trade challenges, including tariffs imposed by the US
India is looking to strengthen economic ties with Austria through partnerships in green and digital technologies, renewable energy, electric mobility, infrastructure, water management, and life sciences. Addressing the India-Austria Business Roundtable in Vienna on Friday, Finance Minister Nirmala Sitharaman highlighted India’s emergence as a global hub for innovation and investment opportunities.
She urged Austrian companies to explore India’s vast potential, pointing out the strides made through policy reforms aimed at accelerating economic growth and enhancing ease of doing business. Speaking to business leaders in Vienna, she underscored that India serves as a gateway to both Asia and the Global South, making it a strategic investment destination.
Sitharaman highlighted India’s booming innovation landscape, noting the presence of over 110 unicorns and thousands of startups. She recognised Austria’s well-regarded startup ecosystem and suggested that innovation remains a shared priority for both governments. According to her, existing Austrian investments in capability centres in India reflect a growing trust in India’s skilled digital and IT workforce.
During her visit, Sitharaman held bilateral discussions with Austrian Finance Minister Markus Marterbauer and State Secretary Barbara Eibinger-Miedl. The ministers discussed enhancing cooperation in the financial, economic, trade, and investment sectors. Marterbauer emphasised the importance of strengthening ties with partner countries like India, particularly in the context of economic strain caused by US tariffs and trade policies.
Marterbauer pointed to India’s position as the fastest-growing G20 economy, with GDP growth projected at over 6 per cent, and stressed that fair and sustainable trade benefits both partners. Austria, known for its export-oriented economy, reiterated its commitment to global rules and shared standards for prosperity and economic stability.
Sitharaman invited Marterbauer to visit India with a business delegation, aiming to cement the commercial partnership further. Her stop in Vienna followed earlier engagements in London for the India-United Kingdom Economic and Financial Dialogue as part of her ongoing two-nation tour.
Source: Business Standard