Electronics companies from Hong Kong showcase innovative, high tech products for the first time in Chennai
Chennai, August 2019: Chennai Retail Summit 2019 saw first-time participation from Hong Kong Trade Development Council (HKTDC), a statutory body dedicated to creating opportunities for Hong Kong's businesses. Five electronic companies from Hong Kong showcased an array of innovative, high tech, trendy, high- quality products at the summit.
The Chennai Retail Summit offers the retail industry an opportunity to connect with manufacturers of contemporary and innovative products launched globally as also opportunities to network with experts and solution providers to grow their business. Electronics companies from Hong Kong showcased products including Ultra mini Walkie Talkies by CPS Telecom Limited, Virtual Reality photo frames by Pacific Goal Optronics Limited, World’s smallest waterproof Bluetooth speaker by IFI HK Limited, Home Décor Bluetooth Speaker by Shiba Gadgets Limited, Ultrasonic Mosquito & Pest Repeller and Personal Sound Amplifier and Super Ear by Astrotech International, reaffirming Hong Kong’s position as one of the world’s largest supplier and exporter of electronic and electrical (E&E) components to India.
Speaking on the side lines of the Summit, Rajesh Bhagat, Consultant, South Asia, Hong Kong Trade Development Council said, “We are excited to participate at the Chennai Retail Summit for the very first time. Hong Kong is the premier electronics hub in Asia-Pacific as also globally and we are happy to have brought here some of the leading electronics players from Hong Kong to showcase their innovations in Chennai for the first time. We hope this is the start of a great business partnership between Chennai and Hong Kong electronics manufacturers and retailers.”
Hong Kong-India bilateral trade has grown on a year to year basis. In 2018, India was Hong Kong's 7th largest trading partner. Reciprocally, Hong Kong was India's 5th largest trading partner in 2018. Bilateral trade in goods between Hong Kong and India amounted to HK$226.7 billion in 2018, decreased by 14.8% from 2017. The average annual growth rate from 2014 to 2018 was 4.5%. In 2018, Hong Kong's domestic export of goods to India amounted to HK$0.6 billion while Hong Kong's re-export of goods to India totaled HK$133.7 billion. In 2018, Hong Kong imported HK$92.4 billion worth of goods from India.
The Chennai Retail Summit attracted buyers across sectors including importers, distributors and mass retailer etc.