site.btaIndian Companies to Invest USD 55 Mln in Bulgaria

Sofia, September 25 (BTA) - Indian companies will invest over 55 million dollars in Bulgaria for the implementation of projects in the short term, Deputy Minister of Economy Alexander Manolev said at the opening of a Bulgarian-Indian business forum in Sofia on Monday, as reported by his ministry. A business delegation of the Indian Electronics and Computer Software Export Promotion Council is paying a visit to Bulgaria. It is sponsored by the government of India and by the Indian branch of the Balkan-Indian Business Association registered in Sofia.

India is an important economic partner of Bulgaria in the Asian region. The constant rise of trade and of Bulgarian exports is indicative of the potential and mutual interest. In the last ten years, trade between the two countries has increased nearly threefold - from 79 million dollars in 2006 to 215 million dollars in 2016, Manolev said.

Projects implemented in Bulgaria in the field of agriculture, pharmaceutical and cinematographic industry were cited as successful examples. "Indian investors have also taken into account the advantages of IT and outsourcing in Bulgaria," Manolev pointed out