India and Austria Forge Partnership in Green Hydrogen and Renewable Energy

By siliconindia  |  Thursday, 11 July 2024, 08:55:48 AM IST

India and Austria Forge Partnership in Green Hydrogen and Renewable Energy
India and Austria emphasized the significance of a sustainable economic partnership and endorsed collaboration between institutions in renewable energy and green hydrogen. Prime Minister Narendra Modi visited Austria from July 9-10, where he engaged in bilateral talks with Chancellor Karl Nehammer. As signatories to the United Nations Framework Convention on Climate Change (UNFCCC) and committed to limiting the global temperature increase to well below two degrees Celsius above pre-industrial levels, the leaders focused on sustainability and recognized its role in reducing climate change risks and impacts.
Highlighting the potential for collaboration, the leaders acknowledged the Austrian government's Hydrogen Strategy and India's National Green Hydrogen Mission. They endorsed a comprehensive partnership between companies and research institutions in renewable energy and green hydrogen, according to a press release by the PMO. The leaders also stressed the importance of research, scientific collaborations, technology partnerships, and innovation in enhancing the bilateral relationship. They urged the exploration of opportunities in these areas to strengthen cooperation further.
Regarding economic partnership, the two countries welcomed the inaugural high-level bilateral Business Forum held in Vienna, featuring participation from CEOs of various companies. PM Modi and Chancellor Nehammer addressed the forum, encouraging business representatives to explore new and dynamic collaborations across different sectors.
The leaders also endorsed initiatives to link the innovation and start-up ecosystems of both countries through the Start-Up Bridge, established during the visit of the Austrian Minister of Labour and Economy to India in February 2024. The successful visit of a group of Indian start-ups to Austria in June 2024 further reinforced these connections.
Additionally, they identified areas for targeted cooperation in environmental technologies, such as clean transportation, water and wastewater management, waste management, renewable energy, and other clean technologies. The leaders encouraged public and private institutions to finance ventures and projects in these sectors to support expanded engagement. They also recognized the growing role of digital technologies in industrial processes (Industry 4.0), including sustainable economy efforts.
This is the first visit by an Indian Prime Minister to Austria in 41 years, the last being Indira Gandhi in 1983. PM Modi’s visit to Austria follows his two-day official visit to Russia, where he met with President Vladimir Putin. It also coincides with the 75th anniversary of diplomatic relations between India and Austria.

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