New Delhi: President Droupadi Murmu on Thursday said that Austrian companies have vast opportunities to expand trade and investment in India, especially in emerging sectors such as semiconductors, green energy and artificial intelligence (AI).
Her assertion came during a meeting with Christian Stocker, Federal Chancellor of the Republic of Austria, who had called on Murmu at the Rashtrapati Bhavan here.
Welcoming Stocker on his first visit to India, the President said that India and Austria share close and friendly relations based on common values such as democracy and the rule of law.
Murmu underlined that this visit is taking place soon after the conclusion of the India-EU Free Trade Agreement.
She expressed confidence that this will provide fresh momentum to India-Austria’s growing trade and investment ties.
The President said that Austrian companies have vast opportunities to expand trade and investment in India, especially in emerging sectors such as semiconductors, green energy, and AI.
She highlighted that both India and Austria are knowledge-based economies and there are immense possibilities to enhance bilateral cooperation in science, technology, and innovation, according to a statement issued by her office.
The President said that in 2024, on the occasion of 75 years of the establishment of diplomatic relations between India and Austria, Prime Minister Narendra Modi’s visit gave a new direction to relations, leading to expanded cooperation in innovation, renewable and clean energy, hydrogen, water and waste management, and AI.
Murmu said that India has one of the world’s largest start-up ecosystems, and acknowledged the role “India-Austria Start-up Bridge,” launched in 2024, is playing in strengthening bilateral cooperation, the statement said.
Earlier in the day, Modi held wide-ranging talks with Stocker that focused on significantly ramping up bilateral ties in areas of trade, defence and infrastructure.
