Hungarian Prime Minister Viktor Orban will visit India in October this year and the two countries are likely to sign several new agreements to further strengthen bilateral cooperation.
External Affairs Minister Salman Khurshid, who is on a three-day visit to Hungary, said in a statement Monday that he had "excellent discussions" with his Hungarian counterpart Janos Martonyi on issues of bilateral, regional and international concern.
"We also agreed to closely coordinate our position on all regional and international issues," he said in the statement.
Briefing reporters here, external affairs ministry spokesperson Syed Akbaruddin said India has had traditionally good relations with Hungary and the country has supported India's candidature to an expanded UN security council and was also in favour of waiver for India at the Nuclear Suppliers' Group (NSG).
He said "in a signal honour" Khurshid had been invited to address the annual conference of Hungarian heads of mission in Budapest on "Indian perspective and Indian approach to foreign policy".
"This is the first time a foreign minister from Asia has been asked to speak" to heads of mission, said the spokesperson.
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The spokesperson said Khurshid will also inaugurate an exhibition celebrating the birth centenary of eminent Indian painter Amrita Shergill, whose one parent is Hungarian.
Akbaruddin said the bilateral economic and commercial engagement was gradually increasing with Indian investments in Hungary reaching a record level of $ 1.5 billion.
The bilateral trade was of $650 million, with Indian exports outweighing imports.
Khurshid will conclude his visit to Hungary Tuesday.