New Delhi, April 16 -- Austrian Chancellor Christian Stocker on Thursday called the European Union-India Free Trade Agreement "essential", projecting a potential 75 per cent surge in exports as he highlighted deepening economic ties between Austria and India.

"My visit is in fact a milestone for Austrian-Indian relations. And I am very pleased, and I also think it's a great honour to be the first federal Chancellor to visit India in more than 40 years," Stocker said, noting the historic significance of the trip.

Referring to Prime Minister Narendra Modi's visit to Vienna in 2024, he added, "I think we can truly say that the diplomatic relations that we've had for the last 75 years are much stronger than ever before. We will be trying to...