Hungary eyes 500 mln euro trade with India, seeks investment

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New Delhi, Jan 18 (UNI) Hungary today said it targets to increase bilateral trade with India to 500 million euros from the present 300 million euros and sought visa regime liberalisation coupled with investment in various sectors.

''Our focus is to increase the bilateral trade from 300 million euros to 500 million euros,'' Prime Minister of the Republic of Hungary, Ferenc Gyurcsany told reporters here.

Liberalisation of visa regime will help to increase the trade between the countries, he added ''The country seeks investment in R&D, innovation, high added value, knowledge based economy, healthcare and defence sector,'' Mr Gyurcsany said.

In an interactive session with the media and industry players, the Hungarian PM said their government is focusing on providing better and credible regulations with no political obstacles to enhance the investment from Indian companies and to facilitate the growth of industry.

The Hungarian government provides various incentives to Indian companies to enhance the investment in research and development (R&D), subsidy for employment creation and training, development of tax benefit and the tailor-made incentive package for strategic investors, he added.

''Hungarian government will provide the customised incentive package to those strategic investors for the 10 million euro investment in terms of cash subsidy, development tax allowance and training subsidy,'' the PM said.

Indian Minister of State for External Affairs Anand Sharma said, ''India seeks investment in sectors such as agro processing, food processing, tourism, infrastructure, and biotechnology.

UNI PDT MP VC1928

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