India, Austria Explore Wider Trade & Investment Opportunities

(MENAFN- KNN India) New Delhi, Apr 18 (KNN) The 17th Session of the India–Austria Joint Economic Commission (IAJEC) was held in New Delhi on Friday, with both sides reaffirming their commitment to deepening economic cooperation.

Union Commerce and Industry Minister Piyush Goyal underlined the strategic importance of the engagement and India's focus on translating partnerships into tangible outcomes in trade, investment and innovation.

The meeting, co-chaired by India's Joint Secretary (Commerce) Saket Kumar and Austria's Director General in the Federal Ministry of Economy, Energy and Tourism Florian Frauscher, reviewed the current state of bilateral economic relations.

Discussions covered opportunities in infrastructure, automotive, railways, road transport, scientific research, innovation, vocational training, startups, AYUSH, tourism, semiconductors, critical minerals, digitalisation, artificial intelligence and film funding, among others.

Both sides also welcomed the conclusion of negotiations on the India–EU Free Trade Agreement (FTA), describing it as a key step toward expanding economic ties.

India–Austria Business Forum Held in Delhi

On the sidelines of the commission meeting, the India–Austria Business Forum was held at Vanijya Bhawan in the presence of visiting Austrian leaders, including Federal Chancellor Christian Stocker and Federal Minister Wolfgang Hattmannsdorfer.

The forum brought together government officials, policymakers and industry leaders to explore opportunities in trade, investment and technology collaboration.

Fast-Track Mechanism for Investors

A bilateral Fast-Track Mechanism (FTM) was launched during the forum to assist investors from both countries. The mechanism aims to facilitate investments, resolve issues in a time-bound manner and improve ease of doing business in India and Austria.

Outlook on Trade and EU Agreement

Both sides emphasised the importance of the proposed India–EU FTA in expanding market access, reducing trade barriers and boosting investment flows.

Priority areas identified included sustainable development, advanced manufacturing and green technologies, with a focus on supporting MSMEs and labour-intensive sectors.

(KNN Bureau)

MENAFN18042026000155011030ID1110998990