Green transformation fuels growing India-Bulgaria trade, says Indian envoy

Ecological transition, now taking center stage in Europe, will create more opportunities for cooperation and trade between India and Bulgaria, said Indian Ambassador to Bulgaria, Sanjay Rana.

The year 2024 marks the 70th anniversary of the establishment of diplomatic relations between India and Bulgaria.

On Thursday, Rana was in Burgas on the Black Sea, near the Bulgarian capital, Sofia, to learn about the possibilities of deepening economic cooperation.

He told the Bulgarian news agency BTA that economic relations between Bulgaria and India have been growing for the past 10 years.

He added that the exchange of construction materials and various special-purpose tools has increased between the two countries.

According to BTA, the Indian envoy said both sides are currently finding new opportunities, including the possibility of trading components for electric vehicles and specialist equipment for the renewable energy sector.

“The green transformation currently taking place in Europe will create more opportunities for cooperation and trade between India and Bulgaria,” he said.

He described the Burgas region as one of the most dynamically developing regions in Bulgaria, as many types of economic activities are concentrated there.

Burgas is a “gateway” to Bulgaria due to its ports and is becoming an increasingly important trade hub between India and Bulgaria. Thanks to the development of logistics and railways, Bulgaria is becoming an extremely important partner for India, he stressed.

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

Rana also referred to the idea of ​​employing workers from third countries in Bulgaria, announcing that India had expressed its willingness to conclude a bilateral agreement with the Bulgarian government in this regard.

According to him, this will benefit large employers in Bulgaria who need a well-trained workforce and India can contribute here.

India has already concluded similar agreements with Italy, Germany, France and Austria, he added.