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16th January, 2020

Indian firms plan investments here

Planned investments in Hungary by Indian companies that employ the latest technology will create 1,000 jobs, Foreign Affairs and Trade Minister Péter Szijjártó told state news agency MTI by phone from Mumbai on Wednesday.

The cabinet will announce these investments over the next two months, he added.

The investors include automotive, electronics and energy companies, such as Tata Sons, the Mahindra Group and the Hinduja Group.

India’s economy is the seventh largest in the world and 16% of its GDP is produced in Mumbai and its vicinity, Szijjártó said.

It is therefore highly significant, he added, that Indian companies in Mumbai and its neighbourhood – among the best in the world in their field – continue to bring their investment projects to Hungary.

About 40 large Indian companies operate in Hungary today, employing more than 10,000 people.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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