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India-Europe relations to take commercial turn after Austrian official’s visit

 India and Europe have further inked their relationship by extending the partnership with a commercial approach. The relations between the two were the talking points during the visit of the Austrian foreign minister to India. 

The Austrian official Alexander Schallenberg discussed the developments of the relations between India and Europe as it emphasized expanding the commercial engagements between the two. 

The two nations agreed to further extend their relations on a commercial level as Austrian business delegates hinted towards significant interest in engaging companies and sectors towards renewable forms of energy in India. 

Talking about the latest developments, Schallenberg shared a tweet where he showed excitement over acknowledging the participation of different delegates from Austria and India due to which industries from both the nations will be benefited. 

He further stressed the collaboration between Advantage Austria In, which is the Austrian Trade Commission, and the Confederation of Indian Industry in New Delhi will also lead to tapping on better opportunities in relation to infrastructure, renewables, and the circular economy.

Highlighting its relationship with Austria, the ministry of external affairs asserted that over 150 Austrian companies are based in India which are diversified in fields like road construction, railways, hydel power plants, water treatment, and even auto components. 

Not only this but many Indian companies have also made investments in Austria especially when it comes to the IT industry and auto parts production. While this time, Austrian counterparts having a strong desire to invest in renewable sources of energy further strengthens the commercial factors between the two sides. 

The latest developments also highlight budding economic interests between the two nations, stress officials associated with the matter.

India-Europe relations to take commercial turn


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