India is one of the biggest foreign investors in Hungary, and Indian companies employ more than 10 thousand Hungarians, globoport.hu reports.
The opening of the Apollo Tyres factory in Gyöngyöshalász was a breakthrough in the relations between Hungary and India. While previously the relations between the two countries were mostly of a cultural and civil nature, the opening of the Apollo Tyres factory in Gyöngyöshalász proved that India has appeared as a significant economic power and investor on the Hungarian market as well.
The ties with India constitute a success in Hungary’s efforts to open to the east. In 2014, India was the biggest, in 2015 the third biggest investor on the Hungarian market. The political ties are strengthening as well, said Rahul Chhabra, ambassador of India to Hungary.
“We salute the Hungarian government for not necessarily following the predetermined path, but making independent decisions for the good of the country. This is important for every government. We, in India, follow the same principles; we are independent and not devoted to any other country,” said the ambassador.
Viktor Orbán’s trip to Delhi and Narendra Modi Indian PM’s visit to Hungary are signs of the strengthening of political ties between the countries. These have been followed by civil initiatives as well. More and more Indian students study in Hungary, and Bollywood films have been shot in the country as well. Thus more and more small and medium-sized businesses see potential in establishing a connection between the countries.
More news about Hungarian Trade and Cultural Center HERE.
Traditional Indian products and natural medicine is being imported from India, while Hungary supplies new technologies for the Asian country, says Rajiv Arora Indian businessman, who, among other things, would be interested in Hungarian waste management technologies. He is also planning, with the support of the Hungarian Trade and Cultural Center, to open an office in Delhi which would help small and medium-sized Hungarian enterprises to find their place on the Indian market.
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