Hong Kong – The ideal trading hub for Indian businesses
Posted on Thursday, 16 March 2017. Posted in Industry News
During a press briefing in New Delhi on 8 February 2017, the director of exhibitions market development, Hong Kong Trade Development Council (HKTDC) Johnny Wan, highlighted opportunities for Indian companies at HKTDC’s world-class trade fairs. Wan underscored the robust bilateral trade relations between Hong Kong and India, adding that the council’s trade fairs offered a good platform for Indian companies to boost business.
“India and Hong Kong have enjoyed a close business relationship over the years. While Hong Kong is well positioned to help enhance India’s external trade in global markets, the HKTDC plays an important role in boosting trade and strengthening bilateral links between India and Hong Kong,” he said.
India is Hong Kong’s seventh largest trading partner. In 2016, the value of bilateral trade reached around US$ 26.9 billion, an impressive increase of 13% over 2015. The trade relationship is particularly strong in pearls, precious and semi-precious stones, telecommunications equipment and parts, as well as finished jewellery.
In Hong Kong, the HKTDC organizes more than 30 fairs annually, forming 11 largest marketplaces of their kind in Asia, with jewellery, gifts, watches and clocks, electronics and lighting being the largest of their kind in the world. In 2016, HKTDC fairs attracted more than 36,000 exhibitors and over 711,000 buyers, affirming the city’s reputation as Asia’s trade fair capital. The same year, more than 730 exhibitors and over 13,000 buyers from India participated in various HKTDC fairs.
Wan spoke of major fairs that will open this April covering lighting, electronics and ICT, houseware, home textiles and furnishings, gifts and premium, as well as printing and packaging, which offer ideal platforms for Indian traders, especially the SMEs and start-up companies, to expand their business. “Hong Kong serves as the best springboard for Indian enterprises to tap into global markets,” he added.
A combination of international quality exhibitors and buyers complemented by marketing support from HKTDC makes the fairs an ideal one-stop marketing and sourcing platform that present good opportunities for Indian businesses to gather the latest market intelligence, form partnerships and develop their business in East Asia through Hong Kong.