Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada visited Hungary from November 4 to 6, seeking to deepen bilateral cooperation in trade, investment and technology, with a focus on electronics manufacturing, pharmaceuticals and emerging technologies.
During the visit, Prasada held a series of high-level meetings with Hungarian leaders, government representatives, industry stakeholders and academic institutions to explore new avenues for expanding economic and technological partnerships between the two countries.
The Minister called on the Deputy Speaker of the Hungarian National Assembly, where discussions centred on strengthening bilateral relations and exploring opportunities for greater cooperation, including in the broader context of India–European Union relations.
He also met Hungary’s Minister of Science and Technology to discuss expanding collaboration in emerging technologies, research and innovation, as well as strengthening partnerships between industries and research institutions in both countries.
As part of his institutional engagements, Prasada visited the Hungarian University of Agriculture and Life Sciences (MATE), one of Central Europe’s leading agricultural research and educational institutions. The visit explored opportunities for cooperation in agricultural research, agri-technology, innovation and sustainable farming practices.
The Minister also visited Gedeon Richter Plc., a leading Hungarian pharmaceutical company with an established manufacturing presence in India through Richter Themis Medicare (India) Pvt. Ltd. The engagement highlighted the existing industrial linkages between India and Hungary and the potential for further cooperation in pharmaceutical manufacturing, research and development, and healthcare technologies.
India-Hungary Business Seminar explores new investment opportunities
On November 5, Prasada addressed the India–Hungary Business Seminar in Budapest, which brought together more than 100 business representatives from the two countries.
Highlighting the considerable potential for expanding bilateral trade and investment, the Minister encouraged Indian and Hungarian companies to explore new business opportunities, develop stronger partnerships and deepen industrial cooperation.
He identified emerging technologies, electronics manufacturing, pharmaceuticals and agriculture as important areas offering opportunities for collaboration. He also underlined the potential arising from closer India–European Union economic engagement and called upon businesses to strengthen commercial linkages and explore new avenues of cooperation.
The Indian business delegation accompanying the Minister participated in the seminar organised by the Embassy of India. It interacted with representatives of the Hungarian Chamber of Commerce and Industry (HCCI), Hungarian Export Promotion Agency (HEPA) and Hungarian Investment Promotion Agency (HIPA).
Business-to-business (B2B) meetings were also organised between Indian companies and their Hungarian counterparts to explore business opportunities, strengthen commercial relationships and identify avenues for increased bilateral trade and investment.
Focus on electronics manufacturing and digital infrastructure
As part of his industry engagements, Prasada visited Foxconn’s manufacturing operations in Hungary, which are involved in producing advanced data centre infrastructure, network communication equipment and artificial intelligence (AI) server technologies.
The visit highlighted opportunities for expanding India–Hungary cooperation in electronics manufacturing, digital infrastructure and emerging technologies, including the development of resilient supply chains.
Minister interacts with Indian diaspora in Hungary
During the visit, Prasada also interacted with members of the Indian community at the Amrita Sher-Gil Cultural Centre in Budapest.
Addressing the gathering, he acknowledged the contribution of the Indian diaspora in strengthening people-to-people connections and fostering closer relations between India and Hungary.
Prasada’s visit provided fresh momentum to bilateral engagement across several strategic sectors, including trade, investment, research, innovation, pharmaceuticals, agriculture and electronics manufacturing.
It also reinforced India’s commitment to deepening its economic and technological partnership with Hungary while advancing broader cooperation with the European Union.
(PIB)
