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Hungary Attracting More Indian Investors, Says Finance Minister

MTI-Hungary Today 2019.08.27.

Hungary’s economic attainments are attracting a growing number of Asian investors, including Indians, Mihály Varga, the finance minister, said after talks with Indian Foreign Minister Subrahmanyam Jaishankar in Budapest on Monday.

Over the past few years, Indian companies have invested over 2 billion euros in Hungary, a finance ministry statement quoted Varga as saying.

The minister called India one of Hungary’s major partners in Asia, adding that economic, cultural and educational cooperation is continually expanding.

Varga noted that two-way trade had increased by 17 percent in 2017 and by 11 percent last year.

The two ministers agreed that Hungary, with its advanced infrastructure and improving business environment, can be an ideal springboard for Indian companies wishing to gain a foothold on the broader European market.

Szijjártó Urges Stronger Economic Cooperation with India

Hungary supports efforts to develop closer ties between Europe and India, Varga said, adding that the new EU-India Strategy approved by the EU Foreign Affairs Council last December may boost cooperation in the economy, global security and sustainable development.