This chapter examines the vicissitudes of political and economic relations between India and Austria from 1947 to the present. It deals with Nehru’s perceptions of Austria prior to the Second World War, New Delhi’s role in the Austrian Peace Treaty, relations during the 1960s and the 1970s, Austrian responses to the Bangladesh crisis (1971), the Emergency (1975), and the New International Economic Order. It examines relations since the 2000s and discusses the staunch Austrian opposition to the Indo-US nuclear deal until Vienna finally relented at the very end. The chapter examines in detail economic, trade relations and FDI, which is the primary focus of the relationship. It briefly discusses mutual perceptions and looks at how Austria has figured in Indian scholarly literature. In conclusion, the chapter argues that despite the absence of any direct political or strategic interests, relations are low-key without intense political dialogue.