New Delhi, April 17: India and Austria have reaffirmed their commitment to strengthening bilateral trade, investment, and innovation partnerships during the 17th session of the India–Austria Joint Economic Commission (IAJEC) held in New Delhi.
Union Commerce and Industry Minister Piyush Goyal подчеркнул the strategic importance of deeper economic engagement with Austria, emphasising India’s focus on building partnerships that deliver tangible outcomes across key sectors.
The meeting was co-chaired by Joint Secretary in the Department of Commerce, Saket Kumar, and Florian Frauscher, Director General at Austria’s Federal Ministry of Economy, Energy and Tourism.
Broad-Based Sectoral Cooperation
The session reviewed the current status of bilateral economic relations and explored avenues for expanding cooperation across multiple sectors. These included infrastructure—particularly automotive, railways and road transport—alongside scientific research, innovation, and emerging technologies.
Both sides also discussed collaboration in dual vocational training, skills development, and mutual recognition of vocational qualifications. Other areas of focus included startups under global innovation networks, AYUSH and wellness, tourism, semiconductors, critical minerals, digitalisation, artificial intelligence, and film production and funding.
Officials noted that such sectoral engagement reflects a shared intent to diversify and deepen economic ties beyond traditional trade.
Backing India–EU Trade Momentum
During the discussions, both sides welcomed the conclusion of negotiations for the European Union–India Free Trade Agreement (FTA), describing it as a significant step toward enhancing India’s economic integration with European markets.
The Commission underlined the importance of leveraging this momentum to unlock new opportunities for businesses and investors in both countries.
The meeting concluded with a reaffirmation of India’s commitment to building a future-oriented economic partnership with Austria, grounded in mutual trust and shared values, while expanding engagement with the broader European region.
