New Delhi, Apr 16: The world is going through a “very tense” situation impacting all nations, Prime Minister Narendra Modi said on Thursday, pitching for bringing lasting peace to Ukraine and West Asia as military conflict cannot solve any problem.

PM Modi made the remarks after holding wide-ranging talks with Austria’s Federal Chancellor Christian Stocker that focused on significantly ramping up bilateral ties in areas of trade, defence and infrastructure.

In their talks, PM Modi and Stocker extensively deliberated on the consequences of the conflicts in West Asia and Ukraine on global economy and vowed to work jointly to mitigate them.

The Austrian Chancellor landed in New Delhi on Tuesday on a four-day trip. It is Stocker’s first official trip outside Europe.

“The entire world is going through a very serious and tense situation today. And it is affecting all of us,” PM Modi said in his media statement.

“In such a tense global environment, India and Austria are unanimous that military conflict cannot solve problems. Whether in Ukraine or West Asia, we support a stable, sustainable, and lasting peace,” he said.

“We also agree that reform of global institutions is essential to address growing global challenges. And eradicating terrorism is our shared commitment,” the PM said.

Following the Modi-Stocker talks, the two sides signed six agreements including one on setting up a setting up a fast track mechanism to help Indian and Austrian companies wanting to invest in each other’s economies.

Another pact was signed on cooperation on military matters.

The letter of intent on military cooperation will provide an institutional framework for promoting cooperation building on the momentum of the India-EU defence and security partnership signed in January.

In his remarks, PM Modi said Stocker’s visit is “extremely significant” and referred to involvement of Austrian companies in numerous engineering projects in India including in railways as well as clean energy initiatives.

“Following the historic India-European Union Free Trade Agreement, a new golden chapter has begun in relations between India and the EU. With Chancellor Stocker’s visit, we are also taking India-Austria relations into a new era,” he said.

PM Modi said the Chancellor’s visit will “inject new energy” into bilateral trade and investment ties.

“We are delighted that he has come to India with a broad vision and a large business delegation. By combining Austria’s expertise with India’s speed and scale, we will ensure reliable technology and supply chains for the entire world,” he said.

“We will also strengthen our partnerships in defense, semiconductor, quantum, and biotechnology,” PM Modi said.