Bulgaria seeks Indian investment in agriculture, IT

Kolkata, May 13: Bulgaria Thursday sought Indian investments in several sectors including agriculture, solar and wind energy, IT, pharmaceuticals and tourism.

Addressing an interactive session organised by the Indian Chamber of Commerce, Bulgarian Ambassador to India Borislav Kostov regretted that Indian investment in the east European nation had not picked up to the desired extent despite the cordial relations between the two countries.

"Among the potential sectors in Bulgaria that need to be tapped are agriculture, energy especially solar and wind energy, IT and ITes services, pharmaceuticals and tourism," he said.

He also pointed out that Bulgaria was rich in natural resources and had abundance of several minerals including galena, spharelite and quartz.

Kostov said business volume between the two countries was expected to increase significantly once the proposed Free Trade Agreement between India and the European Union was implemented improving market access of goods and services both ways.

Bulgaria has received green field investments from India in sectors like agriculture, pharmaceuticals and IT which is expected to multiply within a few years.