India-Hungary Sign Social Security Agreement

(RTTNews) - India and Hungary signed an agreement on social security on Wednesday following a bilateral meeting between Indian Minister for Commerce and Industry Anand Sharma and the Hungarian Prime Minister Gordon Bajnai at Budapest.

Under the agreement, Indian IT professionals and other professionals undertaking short-term employment in Hungary would be able to make contributions to the social security net and their expenses would be reimbursed after they completed their work. Earlier, Indian short-term professionals were not able to get back their contributions to the social security net after completing their employment.

Both India and Hungary also agreed to activate a strategic fund of 2 million euros with equal contribution for cooperation and joint ventures in Science and Technology.

The Hungarian Prime Minister offered to collaborate with India in nuclear energy, bio-fuels, non-conventional energy--including wind energy and nuclear energy--as also in exploring fossil fuels.

by RTT Staff Writer

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