Indian Companies to Make Hydraulic Cylinders, Tractors in Bulgaria
IT services conglomerate WIPRO will start feasibility studies for setting up facilities for manufacturing hydraulic cylinders in Bulgaria, according to the Bulgarian Ministry of Economy, Energy and Tourism (MIET).
A meeting of WIPRO representatives with Bulgarian Energy and Economy Minster Delyan Dobrev made clear that the option of basing the IT business of the company in Eastern Europe in Bulgaria was also being considered.
According to the press office of Bulgaria's MIET, a total of 120 000 people of 70 nationalities work for WIPRO and the company's net profit of WIRPO for 2011 was USD 7 B.
Dobrev is on a visit to New Delhi on the occasion of the 17th session of the Bulgarian-Indian Intergovernmental Joint Committee on Scientific and Technical Cooperation.
Apart from WIPRO, the biggest manufacturer of agricultural equipment in Asia, ESCORTS, is registering a company in Bulgaria and will start assembly production of a new model of tractors, Farmtrac, after which the company plans to expand its investment in the country.
The Escorts Group is an Indian multinational engineering conglomerate that operates in the sectors of agricultural machinery, construction and material handling equipment, railway equipment and auto components.
During the Bulgarian-Indian business forum, Ranjit Pisharoty, Senior Vice President of Sutherland Global Services, urged Indian companies to invest in Bulgaria "not only because the country's most attractive macroeconomic indicators, but also because of the wide availability of highly qualified specialists."
Special attention was drawn to the capacity of Bulgarian education to produce top specialists with huge potential
A call center of Sutherland Global Services is functioning successfully in Sofia and the company is to open offices in other Bulgarian cities, including Ruse, Plovdiv, Varna, and Burgas.
Sutherland Global Services plans to expand the number of jobs it provides by 300% from the current 300.
During his visit to New Delhi, Delyan Dobrev met with India's Minister for Science and Technology, Vayalar Ravi, and India's Tourism Minister Subodh Kant Sahai.
The meetings featured discussions on bilateral cooperation in spheres like natural sciences and renewable energy, as well as the opportunities for deepening contacts between Bulgarian and Indian scientific institutes and research centers.
Trips to familiarize Indian tour operators with Bulgarian golf, spa, and Black Sea resorts are to be organized, as well as trips of representatives of Bulgarian travel agencies to India.
- » Bulgaria Interested in Turkish Stream, Russian Official Says
- » Prices of Visas to Bulgaria Go Up for Russian Citizens
- » Unrefunded VAT to Bulgarian Companies at BGN 113.6 M by end-May
- » Uber Gets Slammed with Fines in Bulgaria
- » Bulgaria's Energy Watchdog to Go On with Power Price Hike
- » Reuters: Europeans Switching to Destinations in Spain, Bulgaria Following Tunisia Terrorist Attacks