Vienna: PM Modi, Chancellor Nehammer attend India-Austria Business Meeting

Prime Minister Narendra Modi and Austrian Chancellor Karl Nehammer participated in the India-Austria Business Meeting, bringing together around 40 businesses from both nations to explore new economic opportunities and strengthen bilateral trade relations.

External Affairs Minister S Jaishankar and National Security Advisor (NSA) Ajit Doval also attended the meeting.

Prime Minister Modi arrived in Vienna on Tuesday evening for a day-long State visit. Ministry of External Affairs spokesperson Randhir Jaiswal said that it was the first bilateral visit of Prime Minister Modi to Austria.

Chancellor Nehammer also praised India’s advancements in infrastructure and digitalisation.

“It is impressive to look at India’s success when it comes to infrastructure digitalisation in society and developing infrastructure at an enormous pace. Today’s Business Forum which is taking place right now, about 40 businesses from India and Austria are coming together to engage in new cooperation and identify new economic opportunities,” he said addressing the India-Austria joint press statement.

Chancellor Nehammer emphasised the importance of finding new economic partnerships in the current global economic climate.

“Currently the world economy finds itself in a challenging situation. Against this background, it is particularly important for Austria – a strongly export oriented country to find new forms of economic cooperation,” he said.

“Today, there are already excellent economic and trade relations with India, marked by mutual trust and confidence. 2.7 Billion Euro is the current trade volume, more than 150 Austrian businesses are operating in India and we expect the number to increase. There will also be Indian investments in Austria. There is high demand for economic cooperation, particularly when it comes to renewable energy, environment and urban technology, urban development and infrastructure development,” added the Austrian Chancellor.

Notably, this is the first time an Indian Prime Minister has visited Austria in 41 years. Indira Gandhi was the last PM to visit Austria in 1983.

PM Modi’s visit to Austria comes after his two-day official visit to Russia, where he met Russian President Vladimir Putin.