Ambassador’s Speech at the Defence Industry Club
(6 February 2025)
Good Afternoon,
It is an honour to speak to the members of the Defence Industry Club in the first month of my arrival in Bulgaria.
As you know, India and Bulgaria have maintained strong diplomatic ties for over 70 years. Defence cooperation is one of the primary areas of collaboration that has steadily evolved in recent years. A joint committee on India-Bulgaria defence cooperation was established in 1989, and we signed a bilateral agreement on defence cooperation in 1993. Today, we aim to build upon our trusted relationships and further enhance the partnership.
Potential areas for collaboration encompass military training, defence technology and equipment, joint exercises, industry-to-industry cooperation, and joint production under the Make in India initiative.
Military Training
In the past, India and Bulgaria have engaged in military training programmes and exchanges. Indian military personnel have received instruction from Bulgarian instructors in various fields, and vice versa. This can be further improved.
Defence Equipment
With a significant historical focus on defence technology, equipment, and systems, Bulgaria has demonstrated itself as a valuable partner for India. It has also engaged in the maintenance and upgrading of traditional military hardware. Cooperation in this sector can be further developed.
Joint Military Exercises
As you know, our defence establishments have conducted joint military exercises to enhance mutual understanding. These exercises primarily focused on sharing experiences in counterterrorism operations, peacekeeping, and humanitarian assistance. Bulgaria also participated in Aero India 2023. Given the current geopolitical landscape, both sides can collaborate on sharing expertise in maritime and navigation security and cyber security.
Industry Linkages
Both countries can explore collaborative opportunities in the defence industry, particularly in defence production and research areas. India offers prospects in specific niche sectors. Indian companies are ready to establish joint ventures with Bulgarian firms in the defence manufacturing sector.
India’s Indo-Pacific Policy
Bulgaria, located in Eastern Europe, bridges India’s broad Indo-Pacific policy and the European Union's strategic aims. This alignment has fostered opportunities for enhanced defence cooperation as India aims to bolster its relationships with EU member states.
R&D Cooperation
Academic institutions in both countries could also explore opportunities for collaboration in research and development, technology transfer, and institutional partnerships. Potential Bulgarian partners include Sofia University, the Bulgarian Academy of Sciences, the Technical University of Sofia and others. At the same time, Indian institutions such as DRDO (Defence Research and Development Organisation) and IITs (Indian Institutes of Technology) can bring valuable expertise.
India’s Expanding Defence Sector
India’s defence industry is experiencing rapid growth and modernisation, making it one of the most attractive markets. If you have followed the recent budget, you may have noticed that for 2025-2026, the proposed defence budget is $78.70 billion, a 9.5% increase from the previous year. Of this, almost a quarter is dedicated to modernising and procuring advanced weaponry. India’s defence market is expected to grow to $89.35 billion by 2029. The aerospace sector alone is projected to reach around $48.41 billion by 2032. Between 2024 and 2032, India’s defence sector is expected to generate orders worth $138 billion, opening immense business opportunities for global partners. India also actively promotes domestic defence manufacturing, with over 14,000 MSMEs (Micro, Small & Medium Enterprises) and 503 startups engaged in this sector. Significant focus is being placed on emerging technologies like AI, cyber warfare, space security, and next-gen military hardware.
Conclusion
Bulgaria has the potential to become a significant European player as we continue to emphasise our global defence partnerships. I feel optimistic about our relationship and would greatly appreciate your comments, opinions, and suggestions.
I look forward to learning more about your ventures in the defence sector. Thank you.
