Jitin Prasada wraps up 3-day Hungary visit, pushes for stronger trade and technology ties

Union Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada concluded his three-day visit to Hungary on Friday, with both countries exploring opportunities to deepen cooperation in trade, investment, technology, innovation and industrial development.

The November 4–6 visit included meetings with senior Hungarian officials, interactions with business representatives and visits to industrial and research institutions, according to a statement issued by the Ministry of Commerce and Industry.

Prasada met the Deputy Speaker of the Hungarian National Assembly to discuss ways of strengthening bilateral relations, including opportunities arising from closer economic engagement between India and the European Union.

The ministry said the visit reinforced India's commitment to expanding its economic and technological partnership with Hungary and provided fresh momentum to cooperation across several sectors.

𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗲𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀

During his visit, Prasada held discussions with Hungary's Minister of Science and Technology on expanding collaboration in emerging technologies, research and innovation.

The talks also explored opportunities for closer partnerships between industries and research institutions in the two countries, particularly in areas where technological innovation could support industrial growth.

As part of his industry engagements, Prasada visited Foxconn's manufacturing operations in Hungary, which are involved in producing advanced data centre infrastructure, network communication equipment and artificial intelligence server technologies.

The visit highlighted opportunities for India and Hungary to strengthen cooperation in electronics manufacturing, digital infrastructure and emerging technologies, including efforts to develop more resilient supply chains.

𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗻𝗲𝘄 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀

On November 5, Prasada addressed the India-Hungary Business Seminar in Budapest, which brought together more than 100 business representatives from the two countries.

He highlighted the potential for expanding bilateral trade and investment and encouraged Indian and Hungarian companies to identify new commercial opportunities, establish partnerships and strengthen industrial cooperation.

Emerging technologies, electronics manufacturing, pharmaceuticals and agriculture were among the sectors identified for greater collaboration.

The minister also highlighted opportunities arising from closer India-EU economic engagement and urged businesses to explore new avenues for cooperation.

The Indian business delegation accompanying Prasada participated in the seminar organised by the Embassy of India and interacted with representatives of the Hungarian Chamber of Commerce and Industry (HCCI), Hungarian Export Promotion Agency (HEPA) and Hungarian Investment Promotion Agency (HIPA).

Business-to-business meetings were also held between companies from both countries to explore potential investments, strengthen commercial relationships and identify opportunities for expanding bilateral trade.

𝗔𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝗮𝗻𝗱 𝗽𝗵𝗮𝗿𝗺𝗮 𝗰𝗼𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻

Prasada visited the Hungarian University of Agriculture and Life Sciences (MATE), a major agricultural research and educational institution in Central Europe.

Discussions during the visit focused on potential cooperation in agricultural research, agri-technology, innovation and sustainable farming practices.

The minister also visited Hungarian pharmaceutical company Gedeon Richter Plc., which already has a manufacturing presence in India through Richter Themis Medicare (India) Pvt. Ltd.

The engagement highlighted existing industrial links between the two countries and opportunities to expand cooperation in pharmaceutical manufacturing, research and development, and healthcare technologies.

𝗜𝗻𝗱𝗶𝗮-𝗛𝘂𝗻𝗴𝗮𝗿𝘆 𝘁𝗿𝗮𝗱𝗲 𝗿𝗲𝗮𝗰𝗵𝗲𝘀 $𝟵𝟰𝟲.𝟳 𝗺𝗶𝗹𝗹𝗶𝗼𝗻

According to government data, bilateral trade between India and Hungary stood at $946.7 million during January–March 2026.

Indian exports to Hungary amounted to $227.8 million during the period, while imports from the European country were valued at $718.9 million.

The figures reflected a trade deficit for India during the three-month period, highlighting the scope for expanding Indian exports and strengthening commercial engagement.

During his visit, Prasada also interacted with members of the Indian community at the Amrita Sher-Gil Cultural Centre in Budapest.

He acknowledged the contribution of the Indian diaspora in strengthening people-to-people connections and fostering closer relations between the two countries.

The ministry said the visit had provided further impetus to bilateral cooperation in trade, investment, innovation and industrial development, while contributing to the broader objective of strengthening India's partnership with the European Union.