The bilateral trade between Bulgaria and India reached USD 424 million in 2024.
Deputy Minister of Economy and Industry, Dontcho Barbalov, participated in the Bulgarian-Indian Business Forum, organised by the Bulgarian Chamber of Commerce and Industry, in partnership with the Embassy of the Republic of India and the Federation of Indian Export Organisations.
“The stable partnership between Bulgaria and India is built on mutual respect, trust, and an effective legal framework. With today’s forum, we are taking an important step towards the implementation of concrete business initiatives and the establishment of long-term partnerships,” stated Deputy Minister Barbalov.
“Bilateral trade between Bulgaria and India reached USD 424 million in 2024, which is a testament to the positive dynamics in relations between the two countries, and the highlights the significant potential for growth,” Barbalov emphasised.
He highlighted the importance of sectors such as high technologies, pharmaceuticals, and agribusiness as key areas with considerable potential for further expanding bilateral cooperation. According to him, the Indian economy is demonstrating stable growth and offers numerous opportunities for enhancing trade exchange.
Deputy Minister Barbalov also stressed the importance of the ongoing negotiations for a Free Trade Agreement between the European Union and India, as a key instrument for removing trade barriers, encouraging investments, and improving access to domestic markets.
“The Ministry of Economy and Industry remains committed to strengthening bilateral cooperation through strategic planning, a proactive approach, and adaptation to the differences in the business and investment environment,” he further noted.
In conclusion, Deputy Minister Barbalov expressed his confidence that the forum would contribute to the exchange of ideas, innovations, and best practices, and would serve as a launching point for a sustainable economic partnership between Bulgaria and India.
The forum was attended by His Excellency Arun Kumar Sahu, Ambassador of India to Bulgaria, and Manish Sharma, representative of the Federation of Indian Export Organisations (FIEO), as well as over 40 companies from both Bulgarian and Indian sides.