The foreign minister has confirmed that Indian companies will soon announce the creation of 1,000 jobs in Hungary.
Péter Szijjártó, Minister of Foreign Affairs and Trade, held talks with representatives of automotive, electronics and energy companies, including Tata Sons and the Mahindra and Hinduja groups, in Mumbai this week to thrash out the deals.
According to MTI, agreements were reached on these companies making investments that exploit Hungary’s geostrategic importance, its well-trained workforce and incentives such as Europe’s lowest corporate tax rate.
The minister said the new jobs will be distributed across Hungary, primarily in the automotive industry, in service centers and the renewable energy sector.
Minister Szijjártó said around 40 large-scale Indian companies operate in Hungary, employing over 10,000 people.
India’s economy is the seventh largest in the world, accounting for 16 percent of national output in and around Mumbai. In this respect, it is of particular importance that Indian companies in or near Mumbai, which are among the largest in their sector in the world, bring their investments to Hungary.