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Indian-Bulgarian business chamber to support bilateral trade and investments

February 19, 2016

India is among the fastest developing economies in Asia. That country has a huge local market and places among Bulgaria’s most-important eastern partners, Bulgaria’s Minister of Economy Bojidar Lukarski said during the official opening of the Indian-Bulgarian Business Chamber in Sofia. In Minister Lukarski’s view, the food industry, the machine-building sector and the automotive industry are among the economic fields with highest potential in the bilateral relations between the two countries.

The mixed Bulgarian-Indian company which packs liquid bituminous compounds near the city of Mumbai is a good example of successful Bulgarian investment in India. A large-scale investment project aimed at implementing Bulgarian Internet technologies in India is another example of good investments in that country. A joint venture between Indian and Bulgarian companies for development of IT products in the field of the mobile applications is also in the process of development. In recent years the bilateral trade between Bulgaria and India has increased significantly from USD 55 million in 2005 to USD 218 million in 2014.