Ambassador Dinkar Khullar inaugurating the Austria- India Business Evening at Radisson BLU Palais Hotel Vienna

Embassy of India Vienna organized the “India-Austria Business Evening” at the Radisson Blu Palais Hotel, on 27th January 2010. The participants consisted of officials from the Austrian ministries, Chamber of Commerce, and the Austrian companies doing business with India together with economic journalists. In all 75 participants attended the evening.

During the welcoming and introductory remark, Ambassador explained the conception of this event. He gave an overview on the emerging economic climate and vast business investment opportunities in India. He touched upon the global economic scenario and the satisfactory growth of Indian economy during this crucial period and also about the resilience despite slowdown in the Indo-Austrian trade and investment in such a negative economic global setup. He mentioned about the high level Austrian Ministerial delegation to India  from 16 to 20 February 2010. He expressed satisfaction over the visible interest towards India shown by Austrian companies during the outreach event in Carinthia. He invited  the Austrian business community to set up business at a mutually beneficial basis in all sectors. He promised the possible assistance from the Embassy.

Dr. Josef Mayer, Vice Minister, Austrian Ministry for Economics, Family and Youth, welcomed Ambassador to Austria and appreciated the initiative at the very beginning of this tenure.  He pointed out that though both the countries keep a smooth and friendly relationship, the bilateral trade volume has not reached to its potential, which called for concerted efforts on both Austria and India.

Dr. Walter Koren, President of the Foreign Trade Department of the Austrian Federal Economic Chamber reiterated the vast potential of doing business with India and encouraged the Austrian business people. He appreciated the performance of  the Indian economic growth path and underscored the importance of such projects beneficial for both sides. He also referred to the Austrian high level delegation to India and expressed keenness to host a similar delegation from India later.

Mag. Michael Loewy, Head, International Affairs, the Austrian Industry Association,   pointing to the 400 million rich Indian middle class amounting  to the EU population, is the encouraging reason for Austrian companies to set up business and invest in India.

Prof. Dr. Hamdy, Adviser to the Confederation of Indian Industry in Austria, called on the Austrian business community to look for the unifying factors and complementarities rather than differences for doing business with India; its cultural traditions, etc and to surpass the Austrian tendency to expand only to the neighbouring countries and to gain more speed in expanding business.

The event provided an opportunity to exchange of views and a platform for establishing contact for developing individual ideas at subsequent occasions with the Commercial Wing of the Embassy of India Vienna.