India and Austria underscored the importance of a sustainable economic partnership and supported cooperation between institutions in renewable and green hydrogen on Wednesday. Prime Minister Narendra Modi visited Austria from July 9-10, during which he held bilateral discussions with Chancellor Karl Nehammer.
As signatories to the United Nations Framework Convention on Climate Change (UNFCCC) and committed to limiting the global temperature increase to well below two degrees Celsius above pre-industrial levels, the leaders focused on sustainability and recognized its role in reducing climate change risks and impacts.
Highlighting the potential for collaboration, the leaders noted the Austrian government’s Hydrogen Strategy and India’s National Green Hydrogen Mission. They supported a broad partnership between companies and research institutions in renewable and green hydrogen, as stated in a press release by the PMO.
The leaders also emphasized the importance of research, scientific collaborations, technology partnerships, and innovation in advancing the bilateral relationship. They called for exploring opportunities in these areas to foster stronger cooperation.
In terms of economic partnership, the two countries welcomed the first-ever high-level bilateral Business Forum, which took place in Vienna with participation from CEOs of various companies. PM Modi and Chancellor Nehammer addressed the forum, encouraging business representatives to pursue new and dynamic collaborations across different sectors.
The leaders also supported initiatives to connect the innovation and start-up ecosystems of both countries through the Start-Up Bridge, established during the visit of the Austrian Minister of Labour and Economy to India in February 2024. The successful visit of a group of Indian start-ups to Austria in June 2024 further strengthened these ties.
Additionally, they identified areas for targeted cooperation in environmental technologies, such as clean transportation, water and wastewater management, waste management, renewable energy, and other clean technologies. The leaders encouraged public and private institutions to finance ventures and projects in these sectors to support expanded engagement. They also recognized the growing role of digital technologies in industrial processes (Industry 4.0), including sustainable economy efforts.
This marks the first visit by an Indian Prime Minister to Austria in 41 years, with Indira Gandhi being the last to visit in 1983. PM Modi’s visit to Austria follows his two-day official visit to Russia, where he met with Russian President Vladimir Putin. It also coincides with the 75th anniversary of diplomatic relations between India and Austria.