Viktor Orban Opens Hungary Consulate In Mumbai

21 Oct 2013

Viktor Orban, visiting Hungarian premier, as investments are invited from the corporate in India, said that his country is looking forward to the growing bilateral trade with India.

Orban said at industry body CII’s organized business summit that they are looking at developing the bilateral trade with India and opening Hungary Consulate in Mumbai will help in this.

He opened the Hungary Consulate office in Mumbai on 18th October. Orban said that Hungary provides many opportunities in the field of biotechnology, IT, automobiles, energy, construction, waste management and water while inviting India Inc to invest in this central European country.

As per government data, the 2012 value of bilateral trade was $642 Million USD and CII conveyed hope that soon it will touch $1 Billion USD mark.

Working in Hungary currently are around 9,000 Indians and Orban said that companies like CG Electric and Tata Consultancy have a large-scale presence in the central European country.

Hungary is eager to establish direct air connectivity with India in a bid to strengthen economic ties and boost tourism. Orban expressed hope that a direct flight between Mumbai and Budapest will help this endeavor.

Orban also said that both the governments have had thorough negotiations in New Delhi and they have agreed to start a joint committee which will prepare a report to smoothen the business process and look into difficulties in trade.

A business delegation also met with the Hungarian prime minister, and he addressed a Hungary-India business forum.

Hungary and India have signed many agreements since 1990, to promote bilateral relationship between both the countries that included double taxation avoidance agreement, air services agreement, social security agreement, agreement on bilateral investment protection and promotion, along with agreements on cooperation in agriculture, health, IT, defense and science & technology.

Providing employment to around 9,000 people, Indian companies have already invested over $1.5 billion USD in Hungary.

Starting his state visit in New Delhi, Orban had interactions with senior Cabinet ministers, President Pranab Mukherjee and Prime Minister Manmohan Singh.