Promoting Indo-Hungarian economic cooperation

The Indo-Hungarian Business Association’s activities cover promotion of commercial and industrial relations between India and Hungary, developing business cooperation between the two countries, providing assistance to Indian entrepreneurs in Hungary and vice versa.

“The initiative for a business association, along the lines of a conventional commercial and industrial chamber, came from our former ambassador Mr. Malay Mishra in 2014. The idea was enthusiastically espoused by the leading Indian entrepreneurs and investors as well as by Indian medium and small companies operating in Hungary,” the founding President of the Indo-Hungarian Business Association, Dr. Amar Sinha explains to Diplomacy & Trade.

The Association’s activities cover promotion of commercial and industrial relations between India and Hungary, developing business cooperation between the two countries, providing assistance to Indian entrepreneurs in Hungary and vice versa.

“Obviously, our members are from all sectors of trade and industry: IT, industrial companies, food and chemical enterprises, businessmen involved in consumer products, restaurants. I am happy to note that even some Austrian and Slovak companies have shown interest in joining us,” the President, who is also the owner of the Shalimar restaurant in Budapest, adds.

As for the benefits of being a member in this Association, Dr. Sinha says that ”we are developing a data base for the benefit of Indian companies planning to set up trade or industrial ventures in Hungary and for Hungarian companies to find suitable partners in India. Our members as well as non-members can seek our assistance in joint ventures. Obviously, here we shall extensively collaborate with various Hungarian institutions.”

Regarding the Hungarian partners they work with, the President points out that “to a great extent, we have to depend on information and help from the Ministry of Foreign Affairs and Trade, Ministry of Economy, the Hungarian Investment Promotion Agency, and the Hungarian Chamber of Commerce and Industry, just to mention a few.”

Dr. Amar Sinha arrived in Hungary some four decades ago as a journalist. He ‘came and saw and stayed’. “To put it briefly, it was love followed by marriage with a pretty Hungarian lady that kept me here. What also lent to my decision to settle in Hungary has been the Hungarians people's hospitality and friendly nature in general, and their respect for and interest in our country,” he concludes.