Hungary evinces interest in civil nuclear deal with India

Hungary has expressed a desire to be part of India's new strategic focus on nuclear energy and to enter into a civil nuclear agreement with it.

At a meeting with visiting Commerce and Industry Minister Anand Sharma in Budapest yesterday, Hungarian Prime Minister Gordon Bajnai also offered to collaborate with India in the fields of bio-fuels and non-conventional energy, including wind energy, as well as in fossil fuel exploration.

Mr Sharma said India would support cooperation in bio-fuels provided there was no diversion of foodgrains for the purpose.

Hungary had supported India in the run-up to the India-United States civil nuclear deal and had backed its cause in the Nuclear Suppliers Group.

During the meeting, the two countries signed an agreement on social security which will facilitate short-term employment for Indian professionals in Hungary.

Under the agreement, Indian IT professionals and other professionals taking up short-term employment in Hungary will be able to make contributions to the social security scheme and the same will be reimbursed to them after they finish their employment in that country.

Earlier, such professionals contributed to the social safety net but could not get their money back after fulfilling their employment tenure. If the professionals decide to migrate to another country, the agreement will ensure that their entire contribution is transfered to that country and his place of employment.

According to an official press release, both sides discussed the huge potential in auto components manufacturing and the need for cooperation between the two countries in this area.

They also decided to activate the "Strategic Fund" that has been established for the purpose of cooperation and joint ventures in science and technology. The corpus of the fund is euro 2 million, with fifty per cent contribution from each country. Both countries will make annual contributions to the fund in this ratio.

Mr Sharma and Mr Bajnai also stressed the need to establish a science and technology network between the two countries through this fund, the release added.

NNN