Sofia, Jun 11 (PTI) External Affairs Minister S Jaishankar has said that securing maritime trade and diversifying supply chains were essential responses to global economic risks, amid heightened tensions in the Gulf region.

Speaking at a press conference in Sofia after his talks with Bulgarian Foreign Minister Velislava Petrova-Chamova on Wednesday, Jaishankar said there was a “meeting of minds” between India and Bulgaria on several issues.

"It is particularly important that maritime trade is neither impeded nor endangered. On behalf of the Global South, India has also repeatedly underlined concerns of energy, food, and fertilisers," Jaishankar said.

"Where economic risks are concerned, the answer is in supply chain resilience and in further diversification." His remarks came against the backdrop of mounting tensions in the Gulf, where Indian seafarers have come under repeated threat in recent days.

Jaishankar said India and Bulgaria shared long-standing ties and that the task now was to "refashion that into a contemporary and forward-looking relationship." On the economic front, he said India's annual growth of 7-8 per cent “offers many new opportunities, both global and international.” Jaishankar listed sectors such as pharmaceuticals, engineering, digital and defence as areas of opportunity within India, and said Indian companies were also making new investments abroad and seeking further collaborations to enhance their competitiveness and market access.

The minister noted that the Sofia University had one of the oldest Indology departments in Europe, and that Yoga and Ayurveda were gaining popularity in Bulgaria.

He also recalled that well-known Indian films had been shot on location in the country in the past.

“As India emerges as a significant hub of global creative investment, this tradition can surely be revived, and I invite the Bulgarian creative industry to come to India,” Jaishankar said.

He underlined the importance of connecting the youth of both countries through hackathons, exchanges and sports.

On India-EU ties, Jaishankar recalled the Free Trade Agreement concluded earlier this year, along with a security and defence partnership and a mobility framework, saying together these “have the potential of transforming the quality of our cooperation.” "Economic opportunities will be explored by each EU member state individually,” Jaishankar said.

He invited Bulgarian businesses to undertake initiatives in India, as Indian businesses would do in return.

During the bilateral talks, the two sides reviewed the full spectrum of India-Bulgaria relations and explored new avenues for cooperation, particularly in the context of the India-EU FTA, the Strategic and Defence Partnership and the Comprehensive Mobility Cooperation Framework.

The India-EU Free Trade Agreement, concluded in January 2026 after nearly two decades of negotiations, is seen as a landmark pact covering a market of two billion people and accounting for roughly a quarter of global GDP.

Jaishankar arrived in Bulgaria on Wednesday and held high-level talks with PM Rumen Radev and Foreign Minister Petrova-Chamova, with discussions focused on expanding bilateral cooperation and strengthening India's engagement with Bulgaria and the European Union.

Following his visit to Sofia, Jaishankar will travel to Finland on Thursday to participate in the 14th edition of the Kultaranta Talks, themed 'A World in Transition: Global, Regional and Local Perspectives'. He will also meet his Finnish counterpart and other senior leaders. PTI FHK AMS

Maritime trade security and supply chain resilience gain focus as India stresses diversification, energy security, and wider cooperation. Maritime trade security and supply chain resilience were highlighted as essential responses to global economic risks, with emphasis that maritime trade should remain neither impeded nor endangered amid tensions in the Gulf. India's concern with energy, food and fertiliser security and the need for further diversification of supply chains were also underlined.