Both leaders acknowledged the role played by industry leaders in strengthening bilateral relations and promoting economic cooperation between India and Austria.
The leaders noted that trade and investment between the two countries have increased over the years and called for realizing the full potential of the India-Austria partnership through greater collaboration.
Prime Minister Modi asked stakeholders in the Austrian business sector to look at the rapidly developing opportunities in India, as the country moves towards becoming the world's third-largest economy in the coming years.
He noted that India had made transformative progress in the last ten years and would continue on the same path given its strengths of political stability, policy predictability and reform-oriented economic agenda.
The Prime Minister urged large Austrian companies to take advantage of the Indian economic landscape for high-quality and cost-effective manufacturing under the Make in Inda programme, both for the domestic and international markets and as a global supply chain destination.
He spoke about India's production-linked incentive scheme to attract global manufacturing companies in the fields of semiconductors, medical devices and solar photovoltaic cells, among others.
He noted that India's economic strengths and capabilities and Austrian technology were natural partners for business, growth and sustainability.
He invited Austrian companies to take advantage of investment opportunities in India and be a part of India's stellar growth story.
He highlighted the measures taken by the government to improve the ease of doing business that was attracting large global companies to India.
Speaking on India's economic growth and transformation, he highlighted India's success in the field of startups, in creating next-generation infrastructure and its commitment to push ahead with the green agenda.
Prime Minister Modi also mentioned that the initial bridge established between India and Austria would yield substantial results. He suggested that the two countries should come together and organize a joint hackathon.
He further spoke about the success of Digital Public Infrastructure in the country and the measures taken to improve connectivity and logistics.
The leaders noted that trade and investment between the two countries have increased over the years and called for realizing the full potential of the India-Austria partnership through greater collaboration.
Prime Minister Modi asked stakeholders in the Austrian business sector to look at the rapidly developing opportunities in India, as the country moves towards becoming the world's third-largest economy in the coming years.
He noted that India had made transformative progress in the last ten years and would continue on the same path given its strengths of political stability, policy predictability and reform-oriented economic agenda.
The Prime Minister urged large Austrian companies to take advantage of the Indian economic landscape for high-quality and cost-effective manufacturing under the Make in Inda programme, both for the domestic and international markets and as a global supply chain destination.
He spoke about India's production-linked incentive scheme to attract global manufacturing companies in the fields of semiconductors, medical devices and solar photovoltaic cells, among others.
He noted that India's economic strengths and capabilities and Austrian technology were natural partners for business, growth and sustainability.
He invited Austrian companies to take advantage of investment opportunities in India and be a part of India's stellar growth story.
He highlighted the measures taken by the government to improve the ease of doing business that was attracting large global companies to India.
Speaking on India's economic growth and transformation, he highlighted India's success in the field of startups, in creating next-generation infrastructure and its commitment to push ahead with the green agenda.
Prime Minister Modi also mentioned that the initial bridge established between India and Austria would yield substantial results. He suggested that the two countries should come together and organize a joint hackathon.
He further spoke about the success of Digital Public Infrastructure in the country and the measures taken to improve connectivity and logistics.
