India and Austria on Friday held the 17th session of the India–Austria Joint Economic Commission (IAJEC) in New Delhi, reviewing bilateral economic ties and charting a roadmap to deepen cooperation across key sectors including trade, investment and innovation.
Union Commerce and Industry Minister Piyush Goyal highlighted the strategic importance of strengthening economic engagement with Austria, underscoring India’s commitment to building partnerships that deliver tangible outcomes.
The meeting was co-chaired by Joint Secretary in the Department of Commerce, Saket Kumar, and Director General at Austria’s Federal Ministry of Economy, Energy and Tourism, Florian Frauscher.
During the session, both sides undertook a comprehensive review of bilateral trade and investment relations and explored opportunities for collaboration in a wide range of sectors. These included infrastructure—such as automotive, railways and road transport—along with scientific research, innovation, and emerging technologies like artificial intelligence and digitalisation.
Discussions also covered cooperation in dual vocational training, skills development, mutual recognition of qualifications, and startups through the Global Innovation Network. Other areas of engagement included tourism, AYUSH and wellness, semiconductors, critical minerals, and film funding.
Both countries welcomed the conclusion of negotiations for the India–European Union Free Trade Agreement, describing it as a significant step towards expanding economic engagement with Europe.
The Commission reaffirmed its commitment to building a future-oriented economic partnership based on mutual trust and shared values, with a focus on unlocking new opportunities for trade and investment between India and Austria.
