Asian nation India and European nation Austria signed a MoU on Technology Cooperation in Road Infrastructure Sector in India’s capital New Delhi. The Memorandum of Understanding seeks to create a framework for the countries’ mutual cooperation in the field of Road/Highways infrastructure development, Road Transportation, management and administration, road safety and intelligent transport systems. This is to enhance trade and regional integration between the two countries.
Why India choose Austria?
The Republic of Austria has the latest technologies for highways and roads such as electronic toll system, intelligent transportation system, traffic management system, landslide protection measures & tunnel monitoring systems.
Why is Austria important to India?
The Republic of Austria is an important link for India in its relationship with Europe. Austria acts as a gateway to central and Eastern European countries. In 1983, Indo-Austrian Joint Economic Commission was established by the both countries government. After the Joint Economic Commission, there have been more than hundred collaborations and 60 joint ventures between the countries.
Both countries share warm and friendly relations. Both India and Austria were established their diplomatic relation in 1949.
India and Austria bilateral trade as of 2018 was 1.869 billion Euros. This is 18.35 per cent higher than that of the previous year. India export to Austria includes: electrical machinery, apparels, footwear, textiles, vehicles, railway parts and mechanical appliances. Austria export to India are machinery, railway parts, mechanical appliances, iron and steel.
Bilateral Space Relations
In 2013, first two satellites of Austria namely UniBRITE and TUGSAT-1/BRITE were launched by ISRO with PSLV-C20 from the Satish Dhawan Space Centre located in Sriharikota.
Indian diaspora in the Austria
Around 31 thousand Indians in Austria in various sectors such as health care business. Majority of them are from Punjab and Kerala.
India Austria Cooperation in Road Infrastructure sector