Hungary, India sign IT pact

CIOL Bureau
New Update

BANGALORE: To bolster the trade relationships between east European countries and India, especially in the field of Information Technology, trade associations of India and Hungary have come together to promote the sector in the two countries. Electronics and Computer Software Export Promotion Council (ESC) has signed a Memorandum of Understanding (MOU) with Hungarian Association of IT Companies (IVSZ) in New Delhi.

The signing of pact has coincided with the visit of the Hungarian Prime Minister to India. The agreement envisages active co-operation between the two countries in IT, sharing of information and exchange of delegations between the two countries.

"It is a timely step especially when India's export of hardware and software to Hungary has been in the upswing with a solid growth of 358 per cent in 2002-03 as compared to the previous year, mostly driven by exponential growth in the software exports. In absolute terms, software exports has gone from a meagre Rs 7.9 million in 2001-02 to Rs 154 million in 2002-03, registering a growth rate close to 2000 per cent," said Radha Bhatia.

"The growing IT market in Hungary and her focus on e-security, e-market and e-governance in the recent days can open up enormous opportunities for Indian exporters of hardware and software. The physical connectivity of Hungary with other East European countries and having regard to the fact that she will become a full fledged member of the EU next year, Indian companies can use Hungary as the Gateway to Europe," says DK Sareen.

Sareen also added, that there are opportunities for augmenting the export of electronic hardware to Hungary particularly electronic components, instrumentation, office equipment, medical equipment, telecommunication products and computer hardware and peripherals. For 2002 -03, the electronic hardware exports to Hungary stood at Rs 32 million. Given focused attention, considerable headway can be made in this sector as well and the MOU will provide the necessary impetus for achieving this goal.