Indian Companies Interested in Investing in Bulgaria

Business | March 8, 2018, Thursday // 17:30
Bulgaria: Indian Companies Interested in Investing in Bulgaria

Indian companies are interested in investing in the automotive, information and communication technology, food, agriculture and clothing industries in our country.

This was made clear during a meeting of Deputy Economy Minister Alexander Manolev with the leadership and members of the largest business organization in India - FICCI, the Ministry of Economy said.

Alexander Manolev has held bilateral talks with potential investors who are interested in Bulgaria and has invited them to visit our country and specific locations that would be appropriate for the opening of their productions.

Established in 1927, FICCI is the largest and oldest business organization in India. It serves its members from Indian private and public corporations and multinationals, reaching over 250,000 companies.

"Bulgaria's economic policy focuses on the development of high added-value industries such as information technology, the automotive industry, machine building, the chemical and pharmaceutical industries, and we can offer good opportunities for Indian investment in these areas," Manolev said. He also paid attention to the fact that Indian companies will gain access to one European market by investing in our country, and our strategic geographic position makes us attractive for a location for business with third countries from the Middle and Far East.

There are a number of Indian companies on the Bulgarian market that have expanded their business in recent years. One of them is Sutherland Global Services, which offers outsourcing of business processes. It operates five centers in Bulgaria, employing over 2000 highly qualified specialists. Sutherland serves customers from around the world, including Cisco, DELL, McAfee, Allianz, Google, Amazon, and others. The company plans to expand its operations in Bulgaria.

Another good example is that of the Indian IT company Feuji Inc, which opened an outsourcing and IT services center to support HP and DXC in Bulgaria.

"Feuyji" serves US companies VMware and AGCO from our country. It employs about 100 specialists.

Indian Cinegrand operates 3 cinemas in Bulgaria and plans to invest another 3m euros next year to open new sites.

Indian companies have investments in Bulgaria in the fields of tourism, medicine, pharmacy, agriculture and others. During the meeting with the Indian business Manolev presented the advantages that the National Industrial Zone Company (NIZC) offers. A partnership agreement was signed between the NIZC and the FICCI and the organization will direct its members interested in Bulgaria to the state-owned industrial zones.

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Tags: Indian companies, investing, Bulgaria

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