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India - Hungary Business and Cultural Council

Hungary, in Central Europe, is famed for its rich history, vibrant culture, and thermal baths. Budapest, its capital, boasts stunning architecture and historic landmarks. Known for its contributions to music, science, and cuisine, Hungary offers a diverse cultural experience.

Ambassador and Consul General

Mr. Zsolt Pakozdy, Chief Counsellor - Economy and Trade and Mr. Daniel Kovacs, Counsellor - Economy and Trade at the Hungarian Embassy have accepted the Honorary Membership of Global India Business Forum, in the presence of Global President of GIBF, Dr. Jitendra Joshi and Global Youth Co-ordinator, Mr. Abhishek Joshi. Realizing the strengths of Global India Business Forum and Consulate of Hungary and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties associated with each other to cooperate with each other in facilitating mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking

embassy-of-hungary-ambassador-and-consul-general

Cars, Spark-Ignition Engines, Pharmaceuticals products, Video Displays, Rubbers

Crude petroleum, Vehicle Parts, Packaged Medicaments, Raw aluminium, Integrated Circuits

About Hungary

Hungary is a landlocked country located in Central Europe. The capital of Hungary is Budapest, a beautiful city divided by the Danube River. The currency of Hungary is Forint (HUF), and it holds a unique language ‘Hungarian’, completely unrelated to any other Indo-European tongue. This linguistic isolation has contributed to a strong sense of national identity. Hungary is known for Thermal Baths, Delicious Cuisine, Historic castles and the Danube river. Budapest, Lake Balaton, Eger, Szeged, Pecs and Danube Bend are must visit places in Hungary.

Business Opportunities in Hungary

Hungary presents a compelling investment landscape with its strategic location, skilled workforce, and government incentives. Hungary is a major automotive production hub in Europe. Opportunities exist in manufacturing, supply chain, and related services. Hungary's fertile land and rich agricultural heritage create opportunities in food production, processing, and export. Hungary's historical sites, thermal baths, and cultural attractions draw tourists hence investment in hospitality, tourism infrastructure, and related services can be profitable. The country's healthcare sector is undergoing modernization, creating opportunities in medical equipment, pharmaceuticals, and healthcare services.

Exports and Imports In Hungary

Overview In 2022, Hungary was the number 57 economy in the world in terms of GDP (current US$), the number 35 in total exports, the number 34 in total imports, the number 55 economy in terms of GDP per capita (current US$) and the number 14 most complex economy according to the Economic Complexity Index (ECI) .

Top Exports of Hungary

The top exports of Hungary are Cars ($12.3B), Motor vehicles; parts and accessories (8701 to 8705) ($7.78B), Electric Batteries ($6.66B), Packaged Medicaments ($3.92B), and Computers ($3.66B), exporting mostly to Germany ($35.5B), Italy ($8.02B), Romania ($7.94B), Slovakia ($6.78B), and Austria ($6.32B).

Top Imports of Hungary

The top imports of Hungary are Petroleum Gas ($10.6B), Motor vehicles; parts and accessories (8701 to 8705) ($6.5B), Electricity ($5.34B), Cars ($3.96B), and Broadcasting Equipment ($3.71B), importing mostly from Germany ($32.5B), China ($10.5B), Austria ($10.4B), Slovakia ($9.79B), and Poland ($8.87B).