Embassy of India
Sofia
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India - Bulgaria:
India- Bulgaria Trade and investment Relations
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Bilateral trade between India and Bulgaria has been growing steadily. Their economies enjoy complementarities in several areas, including IT services, biotechnology, agriculture sector, food processing industry, hospitality, and entertainment sectors. Major Indian IT companies, namely, Tata Consultancy Services, Infosys, Wipro, HCL and Tech Mahindra are present in Bulgaria. With Bulgaria’s advantageous geographical location and its ease of doing business, Indian companies consider Bulgaria as a favourable gateway to the European markets.
India’s trade with Bulgaria during the last five years
|
Year
|
India’sExports to Bulgaria (USD mn)
|
India’s Imports from Bulgaria (USD mn)
|
Total Bilateral Trade
(USD mn)
|
|
2019-020
|
158.90
|
144.06
|
302.96
|
|
2020-2021
|
170.35
|
125.38
|
295.73
|
|
2021-2022
|
247.08
|
173.20
|
420.28
|
|
2022-2023
|
211.42
|
433.19
|
644.61
|
|
2023-2024
|
223.64
|
192.35
|
415.99
|
(Source: Ministry of Commerce and Industry, Govt. of India)
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Major items of Indian exports to Bulgaria are organic chemicals; pharmaceuticals and medicaments; electrical machinery; wool; construction material, plastics; steel and aluminium products.
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Major items of Bulgarian exports to India are laboratory instruments & apparatus; animal feeding preparations; kraft paper; radio-broadcasting apparatus; aluminium waste & scrap; machinery for working rubber or plastics; copper waste & scrap; engines & motors.
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Leading Indian business associations and chambers have collaboration agreements with their Bulgarian counterparts, especially the Bulgarian Chamber of Commerce and Industry. Indian business delegations regularly visit Bulgaria to explore opportunities for trade and investment.
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Tourism is an area, which holds prospects for both the countries. Many Bulgarian tourists visit India for Yoga, Ayurveda and spirituality related tourism. Bulgaria, with its beautiful mountains, the Black-Sea coast boasting of cities like Varna and Burgas, has also become an attractive destination for Bollywood film Industry. Several big banner movies like “Bahubali”, “RRR”, “Dilwale” “Shivaay”, “Bhramastra” “Aganathavasi”. Indian films have helped in popularizing Bulgaria as an interesting tourist destination among the Indian public.
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August 2024
