Union Minister Shri Piyush Goyal Emphasises Strengthening Trade, Investment and Innovation Ties with Austria

The 17th Session of the India–Austria Joint Economic Commission (IAJEC) was held in New Delhi. Union Minister of Commerce and Industry, Shri Piyush Goyal, highlighted the strategic importance of the engagement and emphasised India’s commitment to strengthening economic partnerships that translate into tangible outcomes across trade, investment and innovation.

The IAJEC was co-chaired by Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, Shri Saket Kumar, and Director General, Federal Ministry of Economy, Energy and Tourism of the Republic of Austria, Mr. Florian Frauscher.

The meeting served as an important platform to review the current status of bilateral economic relations, enhance cooperation across priority sectors and outline a forward-looking roadmap for strengthening trade and investment ties between the two countries.

The discussions included a comprehensive assessment of bilateral trade and investment relations. Both sides explored opportunities for cooperation across a range of sectors including infrastructure (automotive, railways and road transport), scientific research and innovation, dual vocational training, skills development and recognition of vocational qualifications, startups (Global Innovation Network), AYUSH and wellness, tourism, semiconductors, critical minerals, digitalisation and artificial intelligence, film funding and other trade and business-related areas.

Both sides also welcomed the conclusion of negotiations for the India–European Union Free Trade Agreement (FTA).

The IAJEC reaffirmed India’s commitment to strengthening a future-oriented economic partnership with Austria, based on mutual trust and shared values, while creating new avenues for deeper engagement with Europe.