The ten men are certainly welcome wherever they go. India is a formidable client to court, having the world’s sixth-biggest economy in 2017 according to the World Bank, the seventh-biggest in that same year according to the United Nations, and the seventh-biggest in 2018 according to the International Monetary Fund. India is already ranked among the top foreign investors in Hungary, with the total touching USD 2 billion and Indian companies employing more than 10,000 Hungarians.

After first visiting Poland, the men from the Automotive Component Manufacturers Association of India were able to spend just a day in Budapest before heading to Slovakia. They were briefed by the Hungarian Investment Promotion Agency on the strengths Hungary has to offer to any further Indian investors, and the agency set up B2B (business to business) meetings with government officials to further build up the bilateral business relationship.

This government assistance includes one-stop management consultancy services, tailor-made incentive offers and information on the business environment, labour market, tax regulations and other factors, and location search with evaluation and site visits. At a networking seminar hosted by the Indian Ambassador to Hungary, Kumar Tuhin, in the Budapest Marriott Hotel, the delegation was given economic briefings by the Parliamentary State Secretary at the Ministry for Innovation and Technology, Péter Cseresnyés, and by the Mayor of Nagykanizsa, Sándor Dénes.

As these three men asserted, Hungary can boast considerable expertise and knowledge in the car industry, being home to four major manufacturing plants: Mercedes-Benz at Kecskemét, Opel at Szentgotthárd, Suzuki at Esztergom and Audi at Győr.

The president of the Automotive Component Manufacturers Association of India, Ram Venkataramani, said the information gleaned in Hungary and the other two countries would be passed on to the association’s 830-plus members. He said the delegation would be leaving with "a very positive feeling" about the incentives and possibilities that Hungary could offer.


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