Sitharaman Sparks Economic Synergy: Austria Eyes India’s E-Mobility and Fintech Boom

Union Finance Minister Nirmala Sitharaman underscored the potential for increasing investment and cooperation between India and Austria in strategic sectors like e-mobility, semiconductors, and fintech. While meeting Austrian Federal Finance Minister Markus Marterbauer in Vienna, Sitharaman briefed India's economic reforms and extended an invitation to Austria to further strengthen relationships through mutual business ventures.

 

Prioritize Strategic Areas: FM Sitharaman recognized e-mobility, semiconductors, and fintech as key areas to attract investment and engagement between India and Austria.

 

National Investment and Infrastructure Fund (NIIF): The scope for cooperation was underscored through the NIIF for sectoral investment enhancement.

 

Startup Ecosystem: The Finance Minister facilitated engagement among startups of both countries, especially in fintech innovation.

 

Invitation to India: Sitharaman extended an invitation to Markus Marterbauer to head a business delegation to India to explore prospects and exchange best practices.

 

Common Values: Marterbauer spoke of India and Austria being natural partners sharing common values, consolidating the platform for economic collaboration.

 

Wider Diplomatic Encounters: Sitharaman's Vienna visit was preceded by her talks in London with British leaders on trade, investment, and pushing forward the India-UK Free Trade Agreement (FTA).

 

Sources YesPunjab, Morung Express