Hong Kong firms keen on sectors like infra, telecom: HKTDC

Hong Kong-based companies are keen to explore Indian markets in areas like transportation, telecommunication and infrastructure, trade promotion body HKTDC said.

Hong Kong Trade Development Council (HKTDC) also said both the countries have huge opportunities to boost bilateral trade and investments.

As a developing country with a huge population and fast growing middle-class consumers, India is embarking on multi- faceted reforms, said Johnny Wan, Director-Market Development, HKTDC.

"Against this backdrop, Hong Kong companies would be interested in entering the services markets such as transportation, telecommunication, infrastructure and selling to India services and lifestyle products sectors," Wan said in an e-mailed interview.

India is Hong Kong's seventh-largest trading partner globally with bilateral trade of around USD 26.9 billion in 2016, an increase of 13.4 per cent over 2015.

On the other hand, Wan said various sectors in Hong Kong would be attractive to Indian exporters, such as pearls, precious and semi-precious stones, and jewellery.

Replying to a question about the major challenges being faced by Hong Kong businesses in the country, he said, "India is known for its very intricate legal system, labour protection laws and high level of bureaucracy." HKTDC is a statutory body dedicated to promoting Hong Kong trade. Its mission is to explore opportunities for domestic companies, especially small and medium-sized enterprises (SMEs) and connect them with business partners around the world.