Hong Kong trade events present many benefits to Indian traders
Hong Kong Trade Development Council (HKTDC) organises over 30 trade fairs a year, eight of which are the largest of their kind in Asia while three are the largest of their kind in the world. These industry-specific trade fairs are effective channels to facilitate global trade, holding good potential for Indian companies interested in expanding their business or in consolidating their position in the region.
Tweet-- Hong Kong Trade Development Council (HKTDC) organises over 30 trade fairs a year, eight of which are the largest of their kind in Asia while three are the largest of their kind in the world. These industry-specific trade fairs are effective channels to facilitate global trade, holding good potential for Indian companies interested in expanding their business or in consolidating their position in the region.
Mr Johnny Wan, Senior Exhibitions Manager of HKTDC, is visiting India to highlight Hong Kong's advantages and the importance of HKTDC trade fairs. He will meet with trading and corporate sector entities to discuss areas of business co-operation to maximise trade potential and establish closer trade ties between India and Hong Kong.
"Hong Kong's strategic position coupled with its economic, political and social stability makes it the best trade destination for Indian companies. In particular, Hong Kong's free trade policy, world-class infrastructure and free flow of information place it in a very competitive position to offer the services and facilities needed for global trade. Ranking as the world's freest economy for 16 consecutive years reinforces this preferential status," Mr Wan told a media gathering. "India, an emerging economic powerhouse, is Hong Kong's 7th largest trading partner. The value of trade between Hong Kong and India in the first six months of 2010 went up 45% to US$8,959 million. To harness the potential of India, we will market our fairs intensively to expand bilateral trade volume."
The Chinese mainland has a rising middle class population and a promising economic outlook. In the first half of 2010, the GDP is 11.1%. Hong Kong, as a mediator, helps Indian companies to step into this booming market and reach Chinese buyers and consumers.
In 2009, the number of Indian exhibitors at HKTDC trade events rose by 8% to over 500. Growth was seen across various industries, including jewellery, house ware, gifts, clothing and food. Over 5,500 Indian buyers attended HKTDC fairs in the last two years.
Garment manufacture is an important export sector for India. HKTDC Hong Kong Fashion Week has attracted strong participation by Indian exhibitors over the years. In the past two years, both Autumn/Winter (concurrent World Boutique included) and Spring/Summer editions attracted over 130 exhibitors. Regarded as major fashion sourcing events by international buyers, the bi-annual Fashion Week is a platform from which Indian exhibitors can expand their export business.
India's winemaking has a long history and the Indian wine market is growing rapidly at the rate of 20-25%. "Hong Kong International Wine & Spirits Fair (4-6 Nov) is an ideal way for winemakers and distributors worldwide to meet. The abolition of wine tax in 2008 has enabled Hong Kong to become a wine trading hub and Indian winemakers can benefit from this policy to export to Hong Kong."
India exports a large quantity of gems & jewellery and Hong Kong is one of major export markets. In the first six months of 2010, India exported over US$2.3 billion of pearls, precious and semi-precious stones and jewelry to Hong Kong. HKTDC Hong Kong International Jewellery Show (4-8 Mar, 2011), a world-class consortium of gems & jewellery attracting thousands of international buyers, enables Indian jewelers to introduce local designs to international market.
HKTDC fairs are popular amongst Indian buyers. HKTDC Hong Kong Electronics Fair (Autumn Edition) (13-16 Oct) is the largest fair of its kind in the world. More than 1,100 Indian buyers came to both editions of the 2009 Hong Kong Electronics Fair. Likewise, the last edition of Asia's largest Hong Kong International Lighting Fair (Autumn Edition) (27-30 Oct) drew over 500 Indian buyers, more than double the 2008 number.
"Supported by a good combination of international quality exhibitors and buyers, our fairs are not only one-stop sourcing platforms, they also present golden opportunities for Indian traders to gather the latest market intelligence and, most important of all, make alliances and develop business in Asia and beyond," Mr Wan concluded
