New Delhi: The visiting Hungarian Prime Minister Peter Medgyssey said today (November 4) Indians were welcome to invest in and trade with his country that is all set to join the European Union (EU).

"We will be very glad, and this is what I am encouraging you for, if Hungry could be an emerging target of investment by Indian companies," Medgyssey said at a business conference attended by a number of Indian CEOs (chief executive officers).

Tata Consultancy Services (TCS) has been present in Budapest since two years, he said, adding an Indian company has expressed interest in acquiring stake in Hungary's biggest metallurgical plant Dunaferr.

Hungary's strategic geographical location might come handy for Indian companies who wish to cater to Central, Eastern and Southern Europe, the Hungarian Prime Minister said.

He said Hungary has already been taking keen interest in investing in India.

"Hungarian capital, for instance, is present in Indian pharmaceutical industry through Themis Medicare Ltd, based in Bombay."

"We could also make a mention of the joint stock company Technip Ganz Machinery which is engaged in design and supply of turbines and hydraulic power machinery in India," he said.

India exports cars, textiles and iron and ore to Hungary and other Indian products would be welcome, he said.

PTI