Hungary Seeks Indian Investment

New Delhi, November 4 | Updated: Nov 5 2003, 05:30am hrs
Hungary, which is poised to join the European Union very soon, on Tuesday extended an invitation to Indian investors and trade community. Visiting Hungarian Prime Minister Peter Medgyssey said, we will be very glad, and that is what I am encouraging you for, if Hungary could be an emerging target of investment by Indian companies.

Addressing a business conference organised by Ficci and CII, Mr Medgyssey said, Tata Consultancy Services has been present in Budapest for two years and an Indian company has expressed interest in acquiring stake in Hungarys biggest metallurgical plant Dunaferr.

Hungarys strategic geographical location might come handy for Indian companies which wished to cater to central, eastern and southern Europe, the visiting dignitary said.

He said Hungary had been taking keen interest in investing in India.

Hungarian capital, for instance, is present in Indian pharmaceutical industry through Themis Medicare Ltd, based in Mumbai.

We could also make a mention of the joint stock company Technip Ganz Machinery which is engaged in design and supply of turbines and hydraulic power machinery in India, he said.

India exports cars, textiles and iron and ore to Hungary and other Indian products would also be welcome, he said.