The Ambassador of Bulgaria to India, Ms. Eleonora Dimitrova who is on a 3-day visit to Tamil Nadu to strengthen economic and cultural ties between Bulgaria and Tamil Nadu, said that Bulgaria was a top destination for investments and expansion. She outlined the key areas, verticals, where Bulgaria could be an attractive destination for TN.
Ms. Eleonora said since India has already emerged as IT hub, the Indian companies can take advantage of the Bulgaria’s highly skilled and educated workforce together with Government incentives like a low corporate and personal tax of just 10%. For instance, the Indian IT major HCL already has a big presence in the country and more companies have shown interest to set up their operations in Bulgaria. As a pharma capital of India, the students from Tamil Nadu particularly those who want to do medicine and pharma related courses, Bulgaria is one of the most attractive destination. Since Tamil Nadu is well known for the film industry, it can take the advantage of Bulgaria’s amazing climate, scenery, monuments, and the Government facilitation.
Since Tamil Nadu popularly known as Detroit of Asia is well known for production of highest number of vehicles, the Ambassador welcomed any investment from the State and set up their plants in Bulgaria. Here she added that out of every 10 cars being rolled out from Europe, 7 cars fitted with some quality spareparts that has been manufactured in Bulgaria. Hence Bulgaria offers immense potential for the automotive industry.
Further, as TN has been identified as a major location for Defence Industrial Corridor Project, Bulgaria can offer their expertise in this critical sector which are mutually beneficial, Ms. Eleonora added.