site.btaEurope's Green Transition to Create More Trade Opportunities between India and Bulgaria, Indian Ambassador to Bulgaria Says

Economic relations between Bulgaria and India have been on the upswing over the past ten years, Indian Ambassador to Bulgaria Sanjay Rana told BTA on Thursday. Rana said the two countries have strong ties in the heavy and chemical industries. There has been an increase in the exchange of construction materials and various special purpose tools between the two countries, he added. Rana arrived in Burgas to get acquainted with the opportunities for deepening economic cooperation. His visit also marked the beginning of the 2024 events marking the 70th anniversary of the establishment of diplomatic relations between India and Bulgaria.

India’s ambassador said that the two sides are now finding new opportunities, including opportunities to trade components for electric vehicles and specific equipment for the renewable energy sector. The green transition currently taking place in Europe will create more opportunities for cooperation and trade between India and Bulgaria, he underscored.

In Rana's words, the Burgas Region is one of the most dynamically developing regions in Bulgaria, as many economic activities take place there. Burgas is a gateway to Bulgaria because of its ports and is becoming an increasingly important hub for trade between India and Bulgaria. With the development of logistics and railways, Bulgaria is becoming an extremely important partner for India, he emphasized.

The ambassador said that Bulgaria and India have a sustainable economic and cultural cooperation, and in recent years new opportunities have opened up, given the growing interest in sustainable technologies, electric vehicles and renewable energy sources.

Rana also commented on the idea of hiring third-country workers in Bulgaria, announcing that India has expressed its desire to the Bulgarian government to conclude a bilateral agreement in this direction. According to him, this will be beneficial for the big employers in Bulgaria as they need well-trained manpower and India has such manpower. India already has similar agreements with Italy, Germany, France and Austria, he added.