Bulgaria

India is becoming an important economic partner in the Asian region, with the strong growth of commodity exchange between the two nations

US$70.4bn GDP in 2019

US$ 173.20mn is the value of Bulgaria's imports from India in 2020-2021

In 2019, Bulgaria's GDP likely to expand by around 3 per cent

Bulgaria's main exports are main exports are light industrial products, foods and wines

US$ 420.29mn
is bilateral trade value for 2021-2022

US$ 5.50mn

FDI inflows to India between April 2000-March 2021

650
Overseas Indians living in Bulgaria

Additional Accreditation The Mission in Bulgaria also handles India's bilateral relations with North Macedonia

Tourism

Bulgaria, with its beautiful mountains and coast along the Black sea has much to offer in terms of tourism.

Silicon Valley

Considered the Silicon Valley of South-Eastern Europe, with a rich tradition in the IT and electronics sectors

Capabilities

Strong Cyber-security and defense capabilities with proactive policies and measures

Tax regime

Most favourable tax regime in Europe. At 10% the corporate income tax rate is the lowest in EU

Strategical location

Direct access to European, CIS, Middle East and North African markets

India-Bulgaria Bilateral Relations

Relations between India and Bulgaria are longstanding, warm and friendly, with the two ancient civilizations proud of their glorious cultural heritage

India and Bulgaria Agreements, 2018

The following bilateral agreements were signed and exchanged during President Kovind’s visit: An agreement between Invest India and Invest Bulgaria An agreement on cooperation in and facilitation of tourism An agreement on enhanced science and technology cooperation An agreement on civil nuclear research and cooperation

Bilateral Relations in Manufacturing

The Prime Minister of India invited Bulgarian companies to manufacture in India under the 'Make in India' initiative thereby enabling them to utilize the technological know-how of the Indian business ecosystem

India's Exports and Imports to Bulgaria

Source: Department of Commerce

Country / Region: BULGARIA

S.No.	\Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022
1.	EXPORT	173.24	212.43	158.90	170.35	247.08
2.	%Growth		22.62	-25.20	7.21	45.05
3.	India’s Total Export	303,526.16	330,078.09	313,361.04	291,808.48	422,004.40
4.	%Growth		8.75	-5.06	-6.88	44.62
5.	%Share	0.06	0.06	0.05	0.06	0.06
6.	IMPORT	141.94	125.66	144.06	125.38	173.20
7.	%Growth		-11.47	14.64	-12.97	38.15
8.	India’s Total Import	465,580.99	514,078.42	474,709.28	394,435.88	613,052.05
9.	%Growth		10.42	-7.66	-16.91	55.43
10.	%Share	0.03	0.02	0.03	0.03	0.03
11.	TOTAL TRADE	315.18	338.09	302.96	295.72	420.29
12.	%Growth		7.27	-10.39	-2.39	42.12
13.	India’s Total Trade	769,107.15	844,156.51	788,070.32	686,244.36	1,035,056.45
14.	%Growth		9.76	-6.64	-12.92	50.83
15.	%Share	0.04	0.04	0.04	0.04	0.04
16.	TRADE BALANCE	31.29	86.77	14.84	44.97	73.88
17.	India’s Trade Balance	-162,054.83	-184,000.33	-161,348.24	-102,627.40	-191,047.65

Indian Bulgarian Business Chamber

Visit Website

24 Patriarch Evtimii Blvd Sredets Region 1000, Sofia, Republic of Bulgaria

Invest Bulgaria Agency

(+359) 2 985 5500

Visit Website

23 Vrabcha fl. 3 Street Sofia 1000, Bulgaria

Embassy of India, Sofia

+359 2963 56 75 / 76 / 77

Visit Website

4 Alfred Noble Street
Sofia 1113, Bulgaria

Commercial Representative

+359 2963 5685 / +359 888439800 / +359 888439800

Visit Website

Second Secretary

Opportunities

Agricultural exports

Waters, incl. min. waters & aerated waters, cont. added sugar/oth. sweeteni … (220210)
Whiskies (220830)

agriexchange.apeda.gov.in

Meat of swine (excl. carcasses/half-carcasses/hams/shoulders & cuts thereof ), fresh/chilled (020319)
Meat of swine (excl. carcasses/half-carcasses/hams/shoulders & cuts thereof ), froxen (020329)

agriexchange.apeda.gov.in

Bread, pastry, cakes, biscuits & oth. bakers’ wares n.e.s. in Ch.19, whethe … (190590)

agriexchange.apeda.gov.in

Maize (corn), other than seed (100590)

agriexchange.apeda.gov.in

Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)

agriexchange.apeda.gov.in

Food preps., n.e.s. (210690)

agriexchange.apeda.gov.in

Aquatic invertebrates; sea cucumbers (Stichopus japonicus,
Holothurioidea), Iive, fresh or chilled (030811)
Crustaceans; frozen, cold-water shrimps and prawns
(Pandalus spp., Crangon crangon), In shell or not, smoked, cooked or not before or during smoking, in shell, cooked by steaming or by bolling in water (030616)
Fish, fresh or chilled, seabass (Dicentrarchus
spp.). excluding fillets, livers, roes, and other fish meat of heading 0304 (030284)
Fish; fresh or chilled, Atlantic salmon
(Salmo salar) and Danube salmon (Hucho
hucho), excluding fillets, Iivers, roes, and
other fish meat of heading 0304
(030214)
Fish; frozen, mackerel (Scomber scombrus, Scomber
australasicus, Scomber japonicus), excluding fillets, livers, roes, and other fish meat of
heading 0304 (030354)

fishexchange.mpeda.gov.in

Minerals

Production – 94,424,000 tonnes
Export – US$ 489.32 million

Production: Coal – 3,45,87,500 tons
Production: Brown/Lignite Coal – 37,784,000 tonnes

Export: Brown/Lignite Coal – 25,000 tonnes

me.government.bg wmc.org.pl

Production – 110,290 tons
Export – US $3.01 billion (2018)
Raw – US$ 1.21 billion

wmc.org.pl

Production – 9,449 kgs (2017)

Production: 22,860 tons
Export: US$ 200 million

me.government.bg

Production: 79.28 million cubic meters
Export: 31.15 million cubic meters

me.government.bg

Refined Petroleum
Export: US$ 2.04 billion (2017)

OEC World

Production: 19,250 tons

wmc.org.pl

Priority Sectors

Here are the leading sectors of opportunities for foreign investors

Agriculture

Automobile

Automobile Components

Chemicals

Defence Manufacturing

Electrical Machinery

Food Processing

IT and BPM

Pharmaceuticals

Textiles and Garments

Tourism

Top Import/ Export Items

India's top import from Bulgaria

Laboratory instruments & apparatus
Animal feeding preparations
Kraft paper
Radio-broadcasting apparatus
Aluminium waste & scrap
Machinery for working rubber or plastics; copper waste & scrap
Engines & motors

India's top export to Bulgaria

Organic chemicals
Unmanufactured tobacco
Medicaments
Electric parts
Wool
Paving blocks
Polymers of propylene
Ferro-alloys

Bilateral Investors

Sutherland Global Services

Feuji Inc

Indian Cinegrand

Namdhari Seeds

Elder Pharmaceuticals