New Delhi, Dec 16: Austrian export to India is likely to exceed half a billion euro, Austrian Federal Minister of Economics and Labour Martin Bartenstein has said.
''When I accompanied the Austrian President H Fischer on his state visit to India in February 2005, we set an ambitious target of pushing Austrian exports to India up to half-a-billion euro in three years. I am happy to say that the projected Austrian exports to India in 2007 are likely to cross half-a-billion euros,'' Dr Bartenstein, who is here with his business delegation, he said.
Bilateral trade and economic relations based on the strong institutional framework have gone up in the recent years. These bilateral relations have been further strengthened with increased interest in India, he said.
''A national export initiative 'Going to India' was launched in Austria by my Ministry together with the Austrian Federal Economic Chamber. To meet the requirement of Austrian companies looking for business cooperation in the country, an Austrian Trade Marketing office was set up in Mumbai in 2005 and the Chennai office will be inaugurated here as well,'' he said.
Indian companies, Dr Bartenstein, in turn, are beginning to invest in Austria such as Wipro Technologies, Bajaj Motors and Cafe Coffee Day.
The stable government and the excellent performance of the Austrian economy, with a growth rate well above the EU-average, the success of the Austrian export-industry despite the unfavourable euro-exchange rate, the availability of a well trained and flexible labour force and the close contact to eastern Europe recommend Austria for further investments from India, he said.