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Hong Kong looks to get Indian Investors

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Simon Galpin, Director-General of Investment Promotion at Invest Hong Kong

Simon Galpin, Director-General of Investment Promotion at Invest Hong Kong

SAN FRANCISCO (Diya TV) — Broadcasting the country as gateway to mainland China, Hong Kong on Friday attempted to attract Indian investors by asking them to set up ventures that would take advantage of their world-class infrastructure and stable tax system.

“India is a very important market for us and we are hopeful that we can attract more Indian companies to Hong Kong this year,” Invest Hong Kong associate director General Jimmy Chiang told reporters Friday.

Chiang represents a government department charged with attracting and facilitating foreign investment into Hong Kong.

While highlighting the purported advantages of investing in Hong Kong, Chiang said the country’s global finance hub offers a thriving infrastructure, low and stable tax system and an independent judiciary to protect the interest of investors.

“Hong Kong has simple and low tax system. But we are not a tax haven because profitable companies need to pay some tax to government, which is 16.5 percent of their profit.”

When questioned on the sector for Indian companies to invest in an effort to tap the Chinese market, Chiang said Indians can look at tourism and hospitality, consumer products and logistics and industrial goods.

“The key sectors for Indian investors are tourism and hospitality and its sub-sector food and beverage,” he said, adding, “Indian companies which are food suppliers and traders can look at the possibility of setting up sales offices here not only to cater to local needs of Hong Kong consumers but also make use Hong Kong as hub to sell products in mainland China.”

“Indian companies are very strong in doing jewelry, diamond and other luxury trading business and they can also make Hong Kong as hub for the same,” he said.

Opportunities are also available for logistics and shipping companies, and companies in the business of producing industrial products, Chiang said.

“These sectors demonstrate strong potential for our friends from India in terms of business development in Hong Kong and China.

“India is number one country for which we have received applications for work visas and this shows Indian investors are coming to Hong Kong to set up businesses.”

Last year, Invest Hong Kong assisted seven Indian companies in setting up investments and businesses in Hong Kong, Chiang said. “They were from consumer products financial services, tourism and hospitality as well as transportation and industry.”

In total, Invest Hong Kong is seeking to assist nearly 400 foreign companies set up business ventures this year. Last year, the Chiang’s administration assisted 375 companies from different parts of the world, he said. In 2014, Hong Kong attracted foreign investments of $103 billion, which is second to only that of mainland China’s that equalled $129 billion the same year. Chiang believes this year’s quota could be a bit ambitious, but is fully convinced it’s within the margin of possibility given the global economic climate.

“Hong Kong is super connector between China and rest of the world,” he said.

Currently, there are 8,000 companies with offices in Hong Kong, of which 3,798 companies have regional offices.

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Indiaspora releases 2021 government leaders list featuring over 200 members of Indian diaspora

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Indiaspora Releases 2021 Government Leaders List | Diya TV News

WASHINGTON (Diya TV) — Nonprofit Indiaspora released their list recognizing more than 200 members of the Indian diaspora who are leaders in their countries’ governments. The leaders span the globe, with more than 60 holding Cabinet-level positions.

More than 32 million people of Indian origin live outside of India, the largest diaspora population in the world.

After entertaining pitches from a number of Indian states, Karnataka Chief Minister B.S. Yediyurappa declared Tesla will set up its Indian production in his state. An electric vehicle pioneer, analysts forecast India could generate 5% of Tesla’s revenue in the next 5 years.

The late Indian American scientist Narinder Singh Kapany, the father of fiber optics, received a posthumous Padma Vibhushan, India’s second highest award. Singh died last year at the age of 94.

An Indian physicist’s revolutionary Black Hole research is turning 50 years old. C.V. Vishveshwara died in 2017, but his work lives on and continues to be honored. The Indian Association for General Relativity and Gravitation and The International Centre for Theoretical Sciences held an event in India to discuss the implications of Vishveshwara’s breakthrough. And now colleagues in his field around the world continue to be astounded at his research. Building off the work of Albert Einstein, Vishveshwara found that Black Holes had a structure, and if you banged on it, would vibrate like a bell. He first published this finding in the science journal “Nature.”

Ravi Kapur contributed to this report.

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Search continues for 12 yr old Arunay Pruthi lost at sea.

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One Month Since Arunay Pruthi’s Loss At Sea | Diya TV News

FREMONT, Calif. (Diya TV)  — It’s been a month since 12 year old Arunay Pruthi disappeared off the California coast. And while his family and their Fremont neighbors are devastated by his apparent loss, they continue to hold out hope they will find out what happened to the 7th grader. Pruthi was caught by dangerous surf at Cowell Ranch State Beach in Half Moon Bay and his father said he just drifted away. Despite hundreds of volunteers scouring the area, Pruthi hasn’t been seen since. There is a $50,000 reward for information leading to his discovery.

31 year old Ashwani Jain announced he’s running to become Maryland’s next governor. The Democrat recently ran unsuccessfully for Montgomery, Maryland City Council. He’s also a former Obama administration official.

Sean Desai made history, as he was named the Chicago Bears new defensive coordinator, making him the first Indian American ever to receive a coordinator job in the NFL. The 37 year old served as an assistant coach for several years before this promotion. Desai started his coaching career at Temple University, where he also received a doctorate in educational administration.

Ravi Kapur contributed to this report.

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UN: Avoid Pakistani airlines over fake pilot licence scandal

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UN: Avoid Pakistani Airlines Over Fake Pilot Scandal | Diya TV News

SANTA CLARA (Diya TV) — The United Nations is telling its staff and partner agencies to avoid flying on all Pakistani airlines as the country continues to deal with a fake pilot license scandal. The warning means UN staff in Pakistan will be unable to fly internationally or domestically with these airlines, creating a travel nightmare.

The National Football League’s San Francisco 49ers is increasing its stake in soccer club Leeds United to 37 percent. And Indian American Paraag Marathe has been tapped to become Vice Chairman of the English Premier League team. Marathe will lead day to day operations and be more involved in the decision making process. The executive is still the 49ers Vice President of Football Operations, essentially the right hand man to owner Jed York.

As more foreign companies turn their backs on the United States, China and India are taking advantage. Direct investment in the US by overseas companies plummeted 49 percent last year according to a recent study. China’s grew by four percent to $163 billion. In India, foreign direct investment skyrocketed 13 percent last year to $57 billion. Policies allowing more foreign companies like Ikea and Uniqlo to open stores and increasing the country’s manufacturing base are some of the reasons for this growth.

Ravi Kapur contributed to this report.

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