The fact that Indian electronics manufacturing industry is doing well can be seen with when the world’s eight largest economy Hong Kong sees a ‘good possibility’ of importing consumer electronics components from India. This was stated last week at Hong Kong by Raymond Yip, Deputy Executive Director, Hong Kong Trade Development Council (HKTDC). Yip said that he will be asking local companies in Hong Kong to start opening manufacturing base in India and this will enhance trade relations betweek these two nations.
He also said that the two countries should be signing Double Taxation Agreement and Investment Protection Treaty for the promotion of trade and investments.
Yip told reporters, “there is a good possibility (of imports) of parts and components for making consumer electronics products. Because we are the largest exporter of telephones, mobiles in the world. So, we need parts for finished products. Because we also trade in products and we don’t buy for our 7.3 million people here. We buy actually for 1.3 billion people in China, we buy for the world. We can buy worth $1.4 billion per day for the world.”
Yip feels that India excels in making good quality telecom components as the country R&D is commendable.
Just for the numbers Hong Kong exports good worth $462 billion last year and half of this comes from electronics.
By Atanu Kumar Das
