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Hong Kong CEO assures PM Modi help in financing India's infrastructure

Talking about his meeting with Prime Minister Minister Narendra Modi, Leung has agreed to take Hong Kong-India cooperation to even higher levels

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"Hong Kong can help finance India's infrastructure," C Y Leung, Chief Executive of Hong Kong SAR
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India and Hong Kong on Thursday decided to strengthen economic cooperation, especially in financial services, as the visiting Chief Executive CY Leung met Prime Minister Narendra Modi here.

Modi welcomed CY Leung on his first official visit to India and expressed the hope that his trip will lead to increased trade, investment and tourism links between India and Hong Kong, a PMO statement said.

"Hong Kong can help finance India's infrastructure," C Y Leung, Chief Executive of Hong Kong SAR, said here at a CII function.

Talking about his meeting with Prime Minister 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.

During the meeting, CY Leung told the Prime Minister about the strong interest among Hong Kong-based companies in India.

Modi and CY Leung agreed to strengthen bilateral economic cooperation, especially in the financial services sector, as well as cooperation in the field of education, it said. 

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.

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 Memorandum of Understanding (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 $19.17 billion (Rs ​1.29 lakh crore). India has received $1.57 billion (Rs 10,646.17 crore) as foreign direct investment from that country during April 2000 and September 2015.

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