FM Sitharaman Highlights E-Mobility and Fintech as Austria Ties Strengthen
There are a number of investment and business cooperation opportunities between India and Austria, particularly in areas like e-mobility, semiconductors and fintech, Union Finance Minister Nirmala Sitharaman has emphasized.
During her meeting with Austria's Federal Finance Minister Markus Marterbauer in Vienna, FM Sitharaman discussed important features of Indian economy, flagship reforms and policy initiatives, as per a Ministry of Finance release.
The Finance Minister described the prospects of investment and business cooperation between the two nations, including via the National Investment and Infrastructure Fund (NIIF), in areas of e-mobility and semiconductors, and between the startup firms on both sides, particularly in FinTech.
Marterbauer called Austria and India natural partners with common values.
Finance Minister also extended an invitation to Marterbauer to come to India with a business delegation to look at sectoral opportunities for partnerships and exchange best practices with one another.
Yesterday, during her London trip, FM Sitharaman called upon British Prime Minister Keir Starmer and talked about trade and investment and matters of common interest between the two nations. They also talked about India-UK Free Trade Agreement (FTA) negotiations' progress.
During the '13th Economic and Financial Dialogue' held in London, co-chaired by FM Sitharaman and Rachel Reeves, Chancellor of the Exchequer, UK, the British side was glad to share its upcoming Industrial Strategy, wherein partnership can underpin the Industrial Strategy's priority growth-driving sectors, including advanced manufacturing and life sciences, where UK skills and research capacity can complement India's growing role as a global manufacturing hub, and clean energy, professional and business services, financial services, the creative industries, and defence to enable jobs and economic growth.
Both nations anticipate the signing of the 'India-UK Defence Industrial Roadmap' to enhance industrial sector relations and enhance supply chains.
The UK and India also received the trade in financial services over the last few years warmly and pledge to collaborate to develop this even more.
