The Hungarian Prime Minister, Viktor Orbán had a bilateral meeting with the Vice-President of India, H.E. Mohammad Hamid Ansari in the Parliament, on 16th October, 2016. Within the frame of this meeting, the Indian Council of World Affairs and the Institute for Foreign Affairs and Trade signed a Memorandum of Understanding.

The agreement was signed by H.E. Rahul Chhabra, the Indian Ambassador to Budapest on behalf of the Indian Party and Márton Schőberl, Director- General on behalf of the Institute for Foreign Affairs and Trade.

Alongside the scientific co-operation, the Indian Ministry of Water Resources, River Development & Ganga Rejuvenation and the Ministry of Interior of Hungary signed a co-operation agreement on Water Management. The Parties also agreed that a global solution is needed to stop terrorism.

After the signature ceremony, a joint press conference took place where the Hungarian Prime Minister expressed his views on how the technological quality of the Hungarian industries needs to be continuously boosted, and that the Indian investments are very welcomed and necessary for that matter. He added that in 2014-2015 India was the biggest green-field investor in Hungary, and now both parties are ready to share innovation know-how, to use the outcome of joint R+D projects and to exploit new opportunities together. In order to achieve these goals, the parties support the establishment of a joint technological working group that is supposed to connect the available resources and capacities in the field of innovation. Co-operation within the sphere of military industry, film industry and agriculture were also addressed during the high-level meeting.