The Minster identified steel, pharmaceuticals, IT and manufacturing as areas where several investment opportunities exist for the two sides to capitalize upon.
Underlining the important role governments have to play to sustain trade, investment and services, Mr. Anand Sharma said that India and Bulgaria would sign an agreement on economic cooperation as well as a MoU between agencies promoting SMEs in the two countries.
With Bulgaria now becoming a member of EU, the country's attractiveness for the Indian businesses has increased further, the minister noted.
He however added that to translate opportunities into concrete business engagements, the two sides would have to work together to facilitate the free flow of businessmen, professionals and tourists by having an enabling visa regime.
Mr. V K Mathur, CII National Council Member said that as the economies of India and Bulgaria are witnessing all round growth, there is much the two sides can offer each other in the fields of trade and investment.
He particularly emphasized on the Special Economic Zones being set up in India and invited the business houses from Bulgaria to consider the opportunities of investing in SEZs in India.
Mr. Sajjan Jindal, Senior Vice President, ASSOCHAM in his address highlighted the strong growth performance of the Indian economy and Indian industry.
He said that as India is emerging as knowledge based economy, Bulgaria should look at diversifying its economic relations with India especially in sectors such as IT, nanotechnology, biotechnology etc.
Mr. Rakesh Bakshi, Senior Member, FICCI Committee mentioned that because of its strategic location Bulgaria acts as a bridge between Asia and Europe. He added that Bulgaria could play a crucial role in augmenting India's trade relations with the rest of Europe.
He apprised the visiting Bulgarian delegation that Indian businesses look towards Bulgaria as a gateway to access markets in East / Central Europe as well as EU.
He added that besides forging strong links in the areas of IT, agro processing, infrastructure development and transportation, Indian companies were keen to participate in the privatization programme of Bulgaria.
Confederation of Indian Industry
marketing@alchempro.com
