NEW DELHI, November 8: India’s Minister of State for Commerce and Electronics, Jitin Prasada, visited Hungary from November 4 to 6 to push trade, investment and technology ties, including a tour of Foxconn’s Hungarian plant that makes AI servers and data centre equipment, the Commerce Ministry said. He also met Hungary’s Science and Technology Minister and addressed more than 100 business representatives in Budapest.
Key highlights
- Meetings: called on the Deputy Speaker of the Hungarian National Assembly and met Hungary’s Minister of Science and Technology.
- Foxconn: visited Foxconn’s operations in Hungary, which produce advanced data centre infrastructure, network equipment and AI server technologies.
- Pharma: visited Gedeon Richter, a Hungarian drug maker with a manufacturing presence in India through Richter Themis Medicare.
- Business: addressed the India–Hungary Business Seminar in Budapest on November 5, attended by over 100 business representatives, with B2B meetings.
- Research: visited the Hungarian University of Agriculture and Life Sciences (MATE) to explore agri-tech cooperation.
| Stop | Purpose |
|---|---|
| Hungarian National Assembly | Meeting with the Deputy Speaker on bilateral and India–EU ties |
| Ministry of Science and Technology | Cooperation in emerging technologies, research and innovation |
| Hungarian University of Agriculture and Life Sciences (MATE) | Agricultural research and agri-technology |
| Gedeon Richter Plc. | Pharmaceutical manufacturing and R&D links |
| India–Hungary Business Seminar, Budapest | Trade and investment; B2B meetings with Hungarian business bodies |
| Foxconn, Hungary | Electronics manufacturing, data centres and AI servers |
| Amrita Sher-Gil Cultural Centre, Budapest | Meeting with the Indian community |
Electronics and supply chains
Mr Prasada, who also holds the electronics and IT portfolio, highlighted opportunities in electronics manufacturing, digital infrastructure and resilient supply chains during his Foxconn visit, the ministry said. At the business seminar, he urged Indian and Hungarian companies to explore partnerships in emerging technologies, electronics, pharmaceuticals and agriculture. The Indian business delegation met the Hungarian Chamber of Commerce and Industry and the country’s export and investment promotion agencies.
The India–EU backdrop
The ministry framed the visit as part of deepening India–European Union economic ties. This week India and the EU also completed negotiations for India to join the EU’s Horizon Europe research programme, as we reported in our story on that agreement.
Our calculation
- The three-day programme covered seven stops: government, a university, two companies, a business seminar, an electronics plant and the Indian community.
What it means for India and Asia
Central Europe has become a base for Asian electronics and battery makers serving the European market. India’s outreach to Hungary aims to link its own electronics push, including the component projects approved this week under the Electronics Components Manufacturing Scheme, with European supply chains and investors. Pharmaceutical ties, through companies such as Gedeon Richter, add another bridge between the two economies.
What to watch
- Any investment announcements by Hungarian firms in India.
- Follow-up on research cooperation in agriculture and emerging technologies.
- Progress in India–EU trade and technology talks.
The Hungarian Parliament Building in Budapest. Image: Ercsaba74, Public domain, via Wikimedia Commons. Photo source
Sources
The Business Desk covers markets, the economy, companies and personal finance. Stories are checked against at least two credible sources before publication.
