Huge Business Opportunities Exist to Boost Trade: Alexander Schallenberg

On Monday, Austrian Minister for European and International Affairs, Alexander Schallenberg said that there exist Huge business opportunities for India and Austria to enhance bilateral trade and investments. At the Austria-India Business Forum, organized by CII, Mr. Schallenberg informed that the bilateral trade between the two countries has crossed USD one billion. He said: "The Bilateral trade shows what kind of potential we have. We are reliable partners, we are people who look for a long-term relationship. There are no political strings attached when you deal with Austrian businesses, I can assure you that.” Mr. Schallenberg also said that the trade between India and Austria can increase cooperation in areas like renewable energy, safe water, hydro plant, infrastructure, and waste management. According to the Austrian Minister, small and medium-sized companies of Austria are exploring the business potential in new markets. Speaking about the ongoing Russian-Ukraine conflict, Schallenberg said: "As far as businesses are concerned, we have (to) be aware that there is a real earthquake going on...Yes, there might be medium-term or long-term opportunities for other countries...but this is something where we should not look at it in that way because what we seeing is actually a catastrophe."