The foreign minister conducted talks with Devendra Fadnavis, chief minister of Maharashtra state, a mainstay of Indiaʼs economy, on developing bilateral trade and tapping investment opportunities.
He said they identified IT and software development, automotive suppliers, the pharmaceutical and food industries, and water management as the key areas for developing cooperation. Szijjártó said Indian investments in Hungary currently total $1.5 bln, noting that Apollo Tyres has recently started its $510 mln greenfield investment in northern Hungary, creating 975 new jobs.
He noted that Hungarian exports to India are on the upturn after declining last year and “there is a good chance” that they will again exceed $200 mln this year. Szijjártó held talks in Mumbai with Indian company managers including the chairman of the TATA group and the chairman of the Godrej Group. He noted that the number of Indian tourists visiting Hungary rose 57% last year, exceeding 6,000.
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