Bilateral trade between the two countries has passed a billion dollars and “it shows the potential we have,” he said here at the Austria-India Business Forum hosted by industry association CII.

There are huge business opportunities for India and Austria to improve bilateral trade and investment, Austrian European and International Affairs Minister Alexander Schallenberg said Monday. Bilateral trade between the two countries has passed a billion dollars and “it shows the potential we have,” he said here at the Austria-India Business Forum hosted by industry association CII.

“We are reliable partners, we are people looking for a long-term relationship. There are no political obligations when you do business with Austrian companies, I can assure you of that,” the minister said. †

“We all know that there is huge untapped potential in Austria-India relations,” Schallenberg noted. He said Austrian small and medium-sized companies are looking for business potential in new markets. “We face challenges in Ukraine and Russia” and Austrian companies are looking for newer opportunities and markets, he said. of the most challenging… but we are hopeful that some doors will open from these meetings and conversations,” he added.

On the conflict between Russia and Ukraine, he said it is a direct attack on the rules-based international system. “As for businesses, we need to be aware that there is a real earthquake going on… Yes, there may be medium or long-term opportunities for other countries… but this is something we shouldn’t look at on those way, because what we’re seeing is actually a catastrophe,” Schallenberg said, adding that when there’s a war in Europe, “it tends to spill over to other continents and other countries. So no one can be indifferent about what is happening in Ukraine”.


This post ‘There are huge business opportunities for India and Austria to boost trade and investment’ was original published at “https://www.financialexpress.com/economy/huge-business-opportunities-exist-for-india-and-austria-to-boost-trade-investment/2466542/”

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