Financial Daily from THE HINDU group of publications
Sunday, Oct 12, 2003
Financial Daily from THE HINDU group of publications Sunday, Oct 12, 2003 |
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Industry & Economy
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Foreign Trade Hong Kong lures Indian business Our Bureau
New Delhi , Oct. 11 REALISING the country's growing interest in the Chinese market, Hong Kong has made a strong case for itself as a favourable investment destination since it is one of the prime gateways for trade and investment into and out of the Chinese mainland. Addressing an industry meeting, the Associate Director-General, Invest Hong Kong, Mr Simon Galpin, said that Hong Kong continues to handle about half of all exports to mainland China and accounts for about half of the foreign direct investment. The meeting was organised by the Confederation of Indian Industry. Mr Galpin said twith $ 2.3 billion worth of imports from the country during 2001-02, Hong Kong was the third largest destination for Indian products after the US and the United Arab Emirates. However, the share of India's trade with Hong Kong is less than 1 per cent, which provides vast scope for further growth in bilateral trade between India and Hong Kong.
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