Bulgaria woos Indian firms, tourists

Our Bureau Hyderabad | Updated on November 15, 2017

Assures hassle-free investment opportunity: The Andhra Pradesh Deputy Chief Minister, Mr C. Damodar Raja Narasimha, the Ambassador of Bulgaria to India, Mr Borislav Kostov, and the State Civil Supplies Minister, Mr D. Sridhar Babu, during the inauguration of Honorary Consulate of the Republic of Bulgaria in Hyderabad. — Nagara Gopal

Banks on free trade pact to boost bilateral ties

Bulgaria has invited Indian companies to make it a home base to tap the European Union and take advantage of its multi-lingual workforce and tax incentives.

Assuring a hassle-free investment opportunity in Bulgaria, its Ambassador to India, Mr Borislav Kostov, said there is immense scope to increase trade ties between India and Bulgaria in the area of IT, hi-tech, pharmaceuticals, food processing and other areas.

Addressing a meeting hosted at the Fapcci, the Ambassador said Bulgaria is keenly looking at the prospect of free trade agreement between India and European Union which will have a positive impact on bilateral trade.

Citing the examples of Elder Pharma's acquisition in Bulgaria and their efforts to increase presence in the region, he felt other companies in drugs and pharma sector could look at tapping the local market.

He said Bulgaria's membership to the EU and potential that India holds for trade could help accelerate the business ties.


Mr. Kostov said that for Bulgaria with a country of 7.3 million already has more than 6 million tourist visitors.

It is one of the most attractive destinations. “We expect the number of tourists to cross the figure of our population this year. As a part of tourist promotion, we are conducting a special programme for Indian travel and tour operations and taking them to Bulgaria,” he said.


“Bulgaria produces some of the finest wines. We are keen that the FTA talks cover this aspect so that Indians could savour them. The Rose Oil, which is priced as much as gold in volume and used in perfumery, is one of the most sought after products from this East European nation,” he said.


Published on April 22, 2012

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