Bilateral trade between Bulgaria and India reaches new heights

Deputy Minister of Economy and Industry Doncho Barbalov participated in the Bulgarian-Indian Business Forum, organized by the Bulgarian Chamber of Commerce and Industry, in partnership with the Embassy of the Republic of India and the Federation of Indian Export Organizations. Barbalov emphasized that the stable partnership between Bulgaria and India is based on mutual respect, trust and an effective legal framework, and the forum is an important step towards the realization of specific business initiatives and long-term partnerships.

The bilateral trade between the two countries reached $424 million in 2024, which is evidence of the positive dynamics of the relationship and the existence of significant potential for growth. Barbalov highlighted sectors such as high technology, pharmaceuticals and agribusiness as areas with great potential for future expansion of cooperation.

The Deputy Minister emphasized the importance of the negotiations for a Free Trade Agreement between the European Union and India, as a key tool for removing trade barriers, promoting investments and improving access to domestic markets. The Ministry of Economy and Industry remains committed to deepening bilateral cooperation through strategic planning, a proactive approach and adaptation to differences in the business and investment environment.

The forum was attended by His Excellency Arun Kumar Sahu, Ambassador of India to Bulgaria, and Manish Sharma, representative of the Federation of Indian Export Organizations (FIEO), as well as over 40 companies from Bulgaria and India. Barbalov expressed confidence that the forum will contribute to the exchange of ideas, innovations and best practices, and will become a starting point for sustainable economic partnership between the two countries.