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Austria and India: New trading boom with billions in deals!
Austria and India bundle their strength: Minister of Commerce Hattmannsdorfer and Sitharaman strengthen economic relationships.
Austria and India: New trading boom with billions in deals!
The economic relationships between Austria and India are currently experiencing an unprecedented upswing. The trading volume between the two countries is now 2.8 billion euros. This positive development is largely promoted by the Indian finance and corporate minister Nirmala Sitharaman, who visited Vienna to intensify the economic cooperation, as Wirtschaftsdienst .
The dependencies between the EU and China are considerable. Average tariffs in China are 11.6 %, in the EU they are 5.3 %. In order to take these conditions into account and diversify the EU supply chains, reforms and multilateral cooperation are urgently required.
Developments in trade relationships between Austria and India are therefore in a broader context of global trade dynamics and the challenges with which the markets are confronted with today. The strategic partnerships that Austria builds with India could play a key role in the future.