Austria on Wednesday said that India's economic sector held the greatest potential for intensified bilateral cooperation while New Delhi sought increased investments from Vienna in the infrastructure sector. New Delhi and Vienna should work for closer collaboration to match the considerable upswing in bilateral trade and visible presence of Austrian companies in India, Austrian President Thomas Klestil said accepting the credentials of the new Indian Ambassador T P Sreenivsan.
Klestil said that President K R Narayanan's visit to the country last year had in a very special way contributed to deepening the excellent and friendly ties between the two countries.
Sreenivasan, until recently deputy chief of mission in Washington, called for Austrian participation in the development of India's infrastructure sector.
Investment needs in the power, telecom, roads, port, housing and other sectors are huge, over $ 400 billion in the next ten years, and a large part of it will have to be sourced from abroad, he said. The new ambassador said, "Austria had excellent infrastructure and expertise in key areas of technology."
He said that the increased number of direct flights connecting New Delhi and Vienna had contributed to the promotion of trade, tourism and people-to-people contacts.

Bureau Report