Szijjártó: Hungary offering relocation incentives to Indian firms in U.K.

Int’l Relations

The Hungarian government will incentivize Indian companies to relocate from the United Kingdom to Hungary following the Brexit referendum, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó told his counterpart during a state visit to India yesterday, according to The Hindu newspaper.

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó with Indian External Affairs Minister Sushma Swaraj yesterday. (Photo: MTI/KKM)

Hungary is uncomfortable with the “ivory tower” approach of policy makers in the European Union, and is looking to develop its economy through new partners, such as India, Szijjártó explained to The Hindu after his meeting with Indian External Affairs Minister Sushma Swaraj.

“We are willing to offer any kind of incentives, assistance or subsidies in case any Indian companies take a decision to leave the U.K. and come to invest in Hungary,” Szijjártó continued.

Swaraj thanked Hungary for its support of India’s candidacy to join the anti-proliferation Nuclear Suppliers Group (NSG) and the Missile Technology Control Regime (MTCR) during the meeting, according to reports.

Szijjártó is the first Foreign Minister from a European Union member state to visit India officially following the decision by voters in the U.K. referendum to leave the EU. Monday began a three-day visit to India for Szijjártó, who will continue to meet with government representatives today.

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