President’s Message for Bharat-Bulgaria Chamber of Commerce

Mr. V.P.V. Yugka Murrthy

India and Bulgaria have shared a remarkable bond of friendship and cooperation that spans over 70 years. Our relationship, built on mutual respect and cultural heritage, dates back to ancient civilizations, with contacts between our people as early as the 8th century AD. These centuries-old ties, formalized with the establishment of diplomatic relations in 1954, are a testament to the enduring nature of our partnership.

In 2024, we celebrate not only this rich historical connection but also the continued growth of our bilateral trade and economic collaborations. The economies of India and Bulgaria complement each other in several sectors, including IT services, biotechnology, agriculture, food processing, hospitality, and entertainment. Leading Indian IT giants such as Tata Consultancy Services, Infosys, Wipro, HCL, and Tech Mahindra have established a significant presence in Bulgaria, recognizing the country as a strategic gateway to the European markets.

As President of the Bharat-Bulgaria Chamber of Commerce, it is my firm belief that the best is yet to come. Our aims and objectives are clear:

Promote Trade and Investment: We strive to enhance trade flows, remove barriers, and foster investment between the two nations.

Reduce Tariffs: By working on tariff reductions and eliminations, we aim to smoothen the exchange of goods and services.

Enhance Customs Cooperation: Streamlining procedures and reducing bureaucratic hurdles will facilitate easier and more efficient trade.

Acknowledge and Protect Intellectual Property Rights: Fair and secure treatment for businesses and individuals is a priority for us, ensuring that both nations can thrive under a protected legal framework.

Foster Technology Transfer and Collaboration: Innovation and development are at the heart of our future, and we aim to encourage initiatives that foster technological progress.

Dispute Resolution: We aim to create fair and timely mechanisms to resolve trade disputes, ensuring a smooth business environment.

Bulgaria’s favorable business environment and strategic location make it an excellent partner for Indian enterprises seeking expansion into European markets. Together, we will continue to work towards strengthening this relationship, making India and Bulgaria not just partners, but dependable friends for generations to come.

Let us continue this journey of growth, innovation, and mutual prosperity.

Warm regards,
V.P.V. Yugka Murrthy
President, Bharat-Bulgaria Chamber of Commerce