Budapest economic forum on the India–EU FTA: tariff-free trade, investment and opportunities for Hungary

The Embassy of India hosted a professional seminar in Budapest on 26th February under the title “New Economic Horizon: The India–EU FTA and the Union Budget 2026 – Opportunities for Hungary.” The event brought together Hungarian and Indian economic actors, Members of Parliament, ministerial experts, and business leaders to discuss the opportunities arising from the India–EU Free Trade Agreement.

The Ambassador’s Keynote Address: India–EU FTA

At the heart of the seminar was Ambassador Anshuman Gaur‘s keynote address, in which he outlined the historic significance of the India–EU FTA. The conclusion of nearly two decades of negotiations – which the Ambassador attributed not to coincidence but to the pragmatic and committed approach of the Hungarian Presidency of the Council of the EU – was formally reached on 27th January. The agreement stands as one of the largest trade deals in the world, creating a combined market of over 2 billion consumers and introducing the immediate elimination of tariffs on more than 90 per cent of goods.

The Ambassador emphasised that the relationship between the two countries is built not merely on diplomatic protocol, but on genuine mutual trust and political understanding. The €3 billion Hungarian investment presence and €1.2 billion in bilateral trade already provide a strong foundation – whether in the form of Hungarian control technology powering electric buses across India, or pharmaceutical cooperation with Richter Gedeon. “India’s doors are not just open,” he said, “they are being rebuilt with European – and specifically Hungarian – partnership in mind.”

India’s Union Budget 2026 reinforces this message further. The nearly €505 billion framework allocates dedicated funding to green hydrogen, semiconductors, and urban infrastructure – precisely the sectors in which Hungary holds globally recognised expertise.

Panel Discussion: Six Perspectives, One Direction

Six experts took part in the panel discussion, approaching the topic from a range of viewpoints – from European parliamentary politics to hands-on business experience.

Enikő Győri, Member of the European Parliament, noted that trading with India had previously been a complex affair, but expressed her conviction that the FTA could provide significant momentum to this relationship.