Bulgaria and India will step up their cooperation in various sectors of mutual interest, such as information technology, high-tech manufacturing, the automotive sector, and industry. This was discussed at a meeting between the Minister of Economy and Industry Peter Dilov and the Ambassador of the Republic of India to Bulgaria, H.E. Arun Kumar Sahu.
Minister Dilov and the Ambassador of India discussed the possibilities for improving investments and trade between the two countries.
“We consider bilateral investment cooperation to be particularly promising, which is a key priority for Bulgaria, especially attracting investments in high-tech manufacturing,” Minister Dilov emphasized.
The Minister of Economy noted that there are various opportunities for Indian companies to invest in Bulgaria’s industrial zones, where Indian manufacturing companies with an export orientation to the European market could be located.
It became clear at the meeting that there are already numerous examples of successful Indian investments in Bulgaria in the fields of information technology and outsourcing services, pharmaceuticals, agriculture, the automotive sector, the film industry, tourism, hospitality, and more.
Minister Dilov stressed that India is an important economic partner for Bulgaria. “We attach great importance to developing relations with India in all areas of mutual interest, in the spirit of the traditionally good bilateral ties,” he said.
As a step toward further deepening bilateral cooperation, they also discussed holding the Bulgaria-India Intergovernmental Commission on Economic Cooperation later this year. It was noted that the Commission has not convened in seven years, despite its key role in promoting bilateral partnership over the years.
Minister Dilov and H.E. Arun Kumar Sahu agreed that it would be beneficial to organize a business forum alongside the upcoming session, which would be an appropriate platform for establishing new partnerships between Bulgarian and Indian companies.
During the meeting, it was mentioned that from January to October 2024, trade between Bulgaria and India reached 366.1 million USD.