India and Austria Strengthen Economic Ties Amid US Tariff Strain

Finance Minister Nirmala Sitharaman met with her Austrian counterparts to discuss strengthening economic ties amidst US tariff strains. The focus included investment opportunities in fintech and e-mobility. Austria, committed to international cooperation, emphasizes the importance of sustainable and fair trade with India as a key global partner.

In response to the challenges posed by new US tariffs, Austria has highlighted the necessity of bolstering economic cooperation with global partners, as discussed during Finance Minister Nirmala Sitharaman's visit to Vienna.

Sitharaman's meetings with Austrian officials, including Finance Minister Markus Marterbauer, focused on innovation-driven collaborations, particularly within fintech and e-mobility sectors, pointing out India as a fast-growing economy offering expansive investment potential.

State Secretary Barbara Eibinger-Miedl emphasized Austria's reliable trading position and expressed optimism for enhanced cooperation, which could lead to sustainable growth and new market opportunities, inviting Austrian business delegations to India to explore collaborative potential further.

(With inputs from agencies.)