Prime Minister Narendra Modi and Austrian Chancellor Karl Nehammer jointly addressed a gathering of prominent CEOs from Austria and India spanning sectors such as infrastructure, automobile, energy, engineering, and startups. They emphasized the pivotal role played by these industry leaders in enhancing bilateral ties and fostering economic cooperation between their nations.
Highlighting the upward trajectory of trade and investment between India and Austria, both leaders underscored the need to fully capitalize on their partnership through enhanced collaboration. Prime Minister Modi urged Austrian business stakeholders to seize the burgeoning opportunities in India, as it gears to become the world’s third-largest economy. He cited India’s significant strides in political stability, predictable policies, and a reform-oriented economic agenda, which have attracted global investments.
Discussing India’s economic growth, Modi praised its achievements in startups, infrastructure development, and commitment to sustainability. He emphasized the success of initiatives like the startup bridge with Austria and proposed joint endeavors such as hackathons to further enhance collaboration. Modi also highlighted India’s robust Digital Public Infrastructure and efforts to bolster connectivity and logistics.
Encouraging Austrian firms to leverage India’s economic landscape, Modi outlined opportunities under the “Make in India” initiative for high-quality, cost-effective manufacturing for both domestic and global markets. He pointed out India’s Production Linked Incentive scheme aimed at attracting global manufacturing giants across sectors like semiconductors, medical devices, and solar PV cells.
In conclusion, Modi invited Austrian businesses to explore investment prospects in India and participate in its remarkable growth journey.
