Keen to play major role in India's infra funding: Hong Kong

Appreciating the Modi government's "pro-growth" stance, Hong Kong on Thursday said it can play a major role in funding and development of infrastructure projects in India. "Hong Kong can help finance India's infrastructure," CY Leung, Chief Executive of Hong Kong SAR, said at a CII function. Talking about his meeting with Prime Minister Narendra Modi, Leung has agreed to take Hong Kong-India cooperation to even higher levels.

He also mentioned about the two-day India Investment Summit, which seeks to attract global investments in sectors like highways, ports, railways, power and renewable energy. He expressed confidence that the trade between India and Hong Kong will continue to grow and added that he sees wealth of prospects, fresh opportunities. Leung said that the opportunities are increasing because of the "pro-growth" economic strategies devised and pursued by the Indian Prime Minister.

Seeking investments, he said Hong Kong offers huge opportunities in terms of intellectual property rights protection, open society, good connectivity with the mainland of China and level-playing field. Further, he said global players in sectors including banking, finance, aviation, shipping, logistics and infrastructure have presence in Hong Kong and they "will be happy to share the experience and expertise to help you find opportunities in Hong Kong and the region". On increasing cultural relations and people to people ties, he said that they have forwarded a draft MoU on cultural cooperation to the Indian government, also looking forward to the signing as soon as possible.

He added that education, technology and innovation are other areas where both the sides can enhance collaborations. "India is a world leader in IT and I know about their ambitious expansion plans for the sector, through the 'Make in India' programme," he said. Leung said, he has recently announced the setting up of an innovation and technology venture fund which aims at investing in local innovation and technology start-ups.

In 2014-15, the bilateral trade between India and Hong Kong stood at USD 19.17 billion. India has received USD 1.57 billion as foreign direct investment from that country during April 2000 and September 2015.