Hungary

Indian and Hungary are stepping up their existing relationship to create an environment of mutually beneficial cooperation

Last updated: March 11, 2024

India is one of the largest green-field investors in Hungary

Film production, digitalization, water management, solar energy and pharmaceuticals are focus areas in India-Hungary relations

Bosnia & Herzegovina attaches importance to good relations with India

Indian companies in Hungary provide employment to thousands of Hungarians

US$ 24.68mn
FDI inflows into India from April 2000 to March 2021

US$ 844.53mn

is bilateral trade value in 2021-2022

2000
Overseas Indians living in Hungary

Concurrent Accreditation The Mission in Hungary also handles India's bilateral relations with Bosnia & Herzegovina

Strategic Location

Ideally located to expand operations in EU. Suited for transport, logistics, import and export

FDI

Hungary has a business friendly environment which welcomes FDI and a competitive policy for foreign investments

Automotive

logistics, electronics, food industry, ICT, medical technology and renewable energy are all key sectors

Workforce

Hungary's workforce is highly educated and skilled with a tilt towards engineering, medicine and economics

India-Hungary Bilateral Relations

A summary of the bilateral engagements between India and Hungary.

Documents signed during the Indo-EU Leaders' Meeting (May 2021)

The documents signed during the Indo-EU Leaders' Meeting include the India-EU Leaders’ Meeting Joint Statement, India-EU Connectivity Partnership, and the document recognizing the second round of financing for the Pune Metro Rail Project.

India's Exports and Imports to Hungary

Source: Department of Commerce

Dated: 27/01/2023
Values in US $ Millions

Country / Region:  HUNGARY

S.No. \Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
1. EXPORT 402.69 458.08 423.94 495.26 550.85
2. %Growth 13.75 -7.45 16.82 11.23
3. India’s Total Export 303,526.16 330,078.09 313,361.04 291,808.48 422,004.40
4. %Growth 8.75 -5.06 -6.88 44.62
5. %Share 0.13 0.14 0.14 0.17 0.13
6. IMPORT 270.84 241.15 187.68 218.92 293.67
7. %Growth -10.96 -22.17 16.65 34.15
8. India’s Total Import 465,580.99 514,078.42 474,709.28 394,435.88 613,052.05
9. %Growth 10.42 -7.66 -16.91 55.43
10. %Share 0.06 0.05 0.04 0.06 0.05
11. TOTAL TRADE 673.53 699.23 611.62 714.18 844.53
12. %Growth 3.82 -12.53 16.77 18.25
13. India’s Total Trade 769,107.15 844,156.51 788,070.32 686,244.36 1,035,056.45
14. %Growth 9.76 -6.64 -12.92 50.83
15. %Share 0.09 0.08 0.08 0.10 0.08
16. TRADE BALANCE 131.86 216.94 236.26 276.34 257.18
17. India’s Trade Balance -162,054.83 -184,000.33 -161,348.24 -102,627.40 -191,047.65

Hungarian Investment Promotion Agency

+36 1 872 6520

Visit Website

H-1055 Budapest, Honvéd u. 20.

Embassy of India, Hungary

0036-1-325-7742 /43

Visit Website

H-1025 Budapest Buzavirag u. 14

Opportunities

Agricultural exports

    Non-alcoholic beverages other than waters of 2202.10 (not incl. fruit/veg. … (220290)
    Waters, incl. min. waters & aerated waters, cont. added sugar/oth. sweeteni … (220210)

    agriexchange.apeda.gov.in

    Cuts & edible offal of species Gallus domesticus, fresh/chilled (020713)
    Meat of swine (excl. carcasses/half-carcasses/hams/shoulders & cuts thereof ), fresh/chilled (020319)
    Meat of swine (excl. carcasses/half-carcasses/hams/shoulders & cuts thereof ), froxen (020329)
    Sausages & sim. prods., of meat/meat offal/blood; food preps. based on thes … (160100)

    agriexchange.apeda.gov.in

    Bread, pastry, cakes, biscuits & oth. bakers’ wares n.e.s. in ch.19, whethe … (190590)
    Sugar confectionery other than chewing gum (incl. white chocolate), not con … (170490)

    agriexchange.apeda.gov.in

    Maize (corn), seed (100510)
    Malt extract; oth. food preps. of flour/groats/meal/starch/malt extact [see … (190190)

    agriexchange.apeda.gov.in

    Chocolate & oth. food preps. cont. cocoa (excl. of 1803.10-1806.10), in blo … (180620)
    Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)
    Chocolate & oth. food preps. cont. cocoa, in blocks/slabs/bars, weighing 2k … (180631)

    agriexchange.apeda.gov.in

    Cheese (excl. of 0406.10-0406.40) (040690)

    agriexchange.apeda.gov.in

    Active yeasts (210210)
    Food preps., n.e.s. (210690)
    Homogenised composite food preps. (210420)
    INACTV YEAST,OTHR SNGL-CELL DEAD MICR-ORG (210220)
    Mixes & doughs for the preparation of bakers’ wares of 19.05 (190120)
    Natural honey (040900)
    OTHR EDBL MXR/PRPNS OF ANML/VEGTBL FATS/ OILS/OF FRACTNS OF DIFFRNT FATS/OILS (151790)
    Preparations for infant use, put up for RS (190110)
    Preparations of fruit (excl. citrus fruit; excl. homogenized), obt. by cook … (200799)
    Prepared foods obt. by the swelling/roasting of cereals/cereal prods. (190410)
    Prepared foods obt. from unroasted cereal flakes/mixts. of unroasted cereal … (190420)
    Prepared/presvd. preps. of bovine animals (excl. homogenised preps.), incl. … (160250)
    Prepared/presvd. preps. of fowls of the genus gallus domesticus (excl. homo … (160232)
    Prepared/presvd. preps. of swine (excl. of 1602.41, 1602.42 & homogenised p … (160249)
    Sauces & preps. therefor, n.e.s.; mixed condiments & mixed seasonings, n.e. … (210390)
    Soups & broths & preps. therefor (210410)
    Tomato ketchup & oth. tomato sauces (210320)
    Whey & modified whey, whether or not concentrated/sweetened (040410)

    agriexchange.apeda.gov.in

    Food preps., n.e.s. (210690)

    agriexchange.apeda.gov.in

    Crustacean – Frozen, shrimps and prawns, excluding cold water varieties, in shell or not, smoked, cooked or notbefor or during smoking, in shell, cooked bt steaming or boiling in water
    Fish – Fresh or chilled, atlantic salmon (Salmon Salar) and danube salmon (Huncho Huncho) Excluding fillet, livers, roes and other fish meat
    Fish preparation – fish minced or in forms; prepared or preservd
    Fish preparation – fish prepared or preserved; whole or in pieces (but not minced)
    Fish preparation – tunas, skipjack, Atlantic Bonito (sarda spp.), Prepared or preserved, whole or in pieces (but not minced)

    fishexchange.mpeda.gov.in
Minerals

    Production: 5,000 tonne

    ksh.hu

    Production: Gravel – 2,343.77 (1000 m3)

    Reserve: Gravel – 764.19 million m3

    mbfsz.gov.hu

    Production: 9,232.81 kilo tonne

    mbfsz.gov.hu

    Production: Gems-39,120 carats, Industrial-13,040 carats

    wmc.org.pl

    Production: 1.9 billion cubic gigameters

    mbfsz.gov.hu

    Production: 75,000 tonnes

    bgs.ac.ukmbfsz.gov.hu

    Production:  7,387.9 (1000 m3) 2018

    Reserve: 2019: 627.49 (million m3) 2019

    mbfsz.gov.hu

Priority Sectors

Here are the leading sectors of opportunities for foreign investors

Automobile
Capital Goods
Food Processing
Healthcare
IT and BPM
Leather
Media and Entertainment
Pharmaceuticals
Renewable Energy
Textiles and Garments
Tourism

Top Import/ Export Items

India's top import from Hungary
  • steel and steel products
  • Chemicals
  • machine tools
  • pulses
  • Newsprint
  • Engineering goods, especially for railways and power projects
  • Footwear
  • Rubber articles
  • Iron and steel
India's top export to Hungary
  • Tea, tobacco, pepper and other spices
  • Iron ore and pellets
  • Cotton and jute
  • Maruti vehicles
  • Chemicals and chemical products
  • Engineering goods
  • Pharmaceutical products
  • Finished leather

Bilateral Investors

Apollo Tyres

TCS

SMR Automative Mirror Technology

Sun Pharma

Samvardhana Motherson Peguform

CG Elecctric Ganz

Wipro

Tech Mahindra

Samvardhana Motherson Group

Richter Gedeon

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