New Delhi: Foreign & Trade Minister of Central Europe’s economic powerhouse Hungary, Péter Szijjártó, is of the opinion that no outside power should lecture India on moves made in Kashmir as such decisions are essentially sovereign and internal in nature.
“Hungary does not interfere in internal matters of other nations. We are fed up. We are fed up of outside powers lecturing us on internal matters,” Szijjártó told ET in an exclusive interview. “Why should I even comment on internal matter of another country? It is for people of that country to decide on their future,” the minister said.
The Hungarian minister recalled the role of a senior US diplomat in Budapest taking part in local protests in Hungary in the past as gross violation of the country’s sovereignty.
Szijjártó, who was in Delhi for Raisina Dialogue and meetings with his Indian counterparts, also pitched for higher Indian investment in Hungary taking advantage of lowest corporate tax among all EU member states. “We have EU’s lowest corporate tax at flat nine per cent. Indian industries and businesses should take advantage of that and invest in Hungary…Indo-Hungarian ties are witnessing their best. We are giving 200 scholarships for Indian students.”
Hungary has the largest chunk of Indian investment in Central and Eastern Europe and the best growth economic rate among all EU member states in that part of Europe. Hungary also has the second lowest unemployment rate in EU region. It is for no other reason that Foreign Minister S Jaishankar made Hungary his first stop in Europe and even addressed conference of Hungarian ambassadors.
Economic cooperation between India and Hungary has a long history. Cooperation in this field was institutionalized in 1949 with the signing of a rupee trade agreement. Over 25 collaborations had also been established in India by Hungarian companies. India was the largest greenfield investor in Hungary in 2014 and third largest in 2015.
Major Indian presence in Hungary includes Apollo Tyres, SMR Automotive, Sun Pharmaceuticals, Orion Electronics Ltd, Sona BLW, Cosmos and major IT companies like TCS, WIPRO, Cognizant and Tech Mahendra. Apollo Tyres has set up a greenfield tyre production factory in Hungary with an investment of Euro 475 million. There are also a small number of first-generation Indians who have set up businesses.
“We have an excellent climate for FDI and today Asian powers – India, China, Japan and South Korea constitute a big chunk of FDI in Hungary” Szijjártó said.
Source: Economic Times
