Visit of the Indian Finance Minister to the BMF
The aim is to strengthen cooperation between India and Austria
India's Finance Minister Nirmala Sitharaman met Finance Minister Markus Marterbauer and State Secretary Barbara Eibinger-Miedl at the premises of the Ministry of Finance on Thursday afternoon as part of a working meeting. The aim of her visit to Austria is to deepen India's economic and financial relations with Austria through high-level dialogues, bilateral meetings and opportunities for cooperation.
As an export-orientated economy, Austria has always been committed to common international rules and standards that promote prosperity and stability. Due to its geopolitical position, historical roots and economic strength, Austria is a reliable trading partner.
"The customs and trade policy of the USA is having a negative impact on the European and Austrian economies. This makes it all the more important to strengthen economic cooperation with all partner countries and promote innovation-driven collaboration. India is the fastest growing economy of all G20 countries with a forecastGDP growth of over six per cent. If trade takes place under fair and sustainable conditions, both partners will benefit," says Finance Minister Markus Marterbauer.
The Indian Finance Minister Nirmala Sitharaman reported on the most important aspects of the Indian economy, the most important reforms and political measures. She explained the opportunities for investment and business cooperation between the two countries, including through the National Investment and Infrastructure Fund, in the e-mobility and semiconductor sectors and between start-ups on both sides, especially in the financial technology sector.
"Cooperation and trade relations with economies such as India are of great importance for our location. The exchange with Finance Minister Sitharaman underlines the great potential of closer cooperation between Austria and India - especially in the sectors of digital and innovative financial technologies. Together we can create framework conditions that promote sustainable growth and open up new market opportunities for our domestic companies ," said State Secretary in the Ministry of Finance Barbara Eibinger-Miedl.