Investment Prospects in E-Mobility, Semiconductors, and Fintech for Austria: FM Sitharaman

Synopsis

Union Finance Minister Nirmala Sitharaman highlighted significant investment and collaboration prospects between Austria and India in sectors like e-mobility, semiconductors, and fintech. The discussions during her meetings underline the shared values and economic potential of both nations.

Key Takeaways

Investment opportunities in e-mobility and semiconductors.
Collaboration among startups in fintech.
NIIF as a platform for partnership.
Austria and India as natural allies.
Invite for further business delegations to explore synergies.

New Delhi, April 11 (NationPress) There are numerous avenues for investment and business collaboration between Austria and India, particularly in sectors like e-mobility, semiconductors, and fintech, emphasized Union Finance Minister Nirmala Sitharaman.

During her discussion with Markus Marterbauer, the Federal Finance Minister of Austria, in Vienna, FM Sitharaman highlighted significant aspects of the Indian economy, including flagship reforms and policy measures, as noted in a statement from the Ministry of Finance.

The Finance Minister underscored the potential for investment and business collaboration between both nations, particularly through the National Investment and Infrastructure Fund (NIIF), focusing on areas like e-mobility and semiconductors, and fostering collaboration among startup companies, especially in FinTech.

Marterbauer characterized Austria and India as natural partners with shared values.

Furthermore, the Finance Minister extended an invitation to Marterbauer to visit India with a business delegation to explore collaborative opportunities and exchange best practices.

Earlier, during her visit to London, FM Sitharaman met with British Prime Minister Keir Starmer to discuss trade, investment, and mutual interests, including the status of the India-UK Free Trade Agreement (FTA) negotiations.

At the ‘13th Economic and Financial Dialogue’ in London, co-chaired by FM Sitharaman and Rachel Reeves, the UK Chancellor of the Exchequer, the UK side expressed enthusiasm about its upcoming Industrial Strategy, where collaboration can enhance priority sectors, such as advanced manufacturing and life sciences, leveraging UK expertise to support India’s growing role as a global manufacturing hub. This partnership also extends to clean energy, professional and business services, financial services, creative industries, and defence to foster job creation and economic growth.

Both parties anticipate the signing of the ‘India-UK Defence Industrial Roadmap’ to reinforce ties between industrial sectors and support supply chains.

India and the UK also acknowledged the growth of financial services trade in recent years and committed to further collaboration.