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Hungary’s economic attainments are attracting a growing number of Asian investors, including Indians, Mihály Varga, the finance minister, said after talks with Indian Foreign Minister Subrahmanyam Jaishankar late on Monday. Over the past few years, Indian companies have invested over 2 billion euros in Hungary, a finance ministry statement quoted Varga as saying. The minister called India one of Hungary’s major partners in Asia, adding that economic, cultural and educational cooperation is continually expanding. Varga noted that two-way trade had increased by 17% in 2017 and by 11% last year.

The two ministers agreed that Hungary, with its advanced infrastructure and improving business environment, can be an ideal springboard for Indian companies wishing to gain a foothold on the broader European market. Hungary supports efforts to develop closer ties between Europe and India, Varga said, adding that the new EU-India Strategy approved by the EU Foreign Affairs Council last December may boost cooperation in the economy, global security and sustainable development.