Stronger investment ties with Hong Kong in ESDM, startups and advanced manufacturing: Minister MB Patil

BENGALURU: Karnataka is keen to deepen its economic engagement with Hong Kong by building partnerships in Electronics System Design and Manufacturing (ESDM), startups, semiconductors, fintech, biotechnology, clean mobility and advanced manufacturing, Large and Medium Industries Minister M B Patil said on Monday after meeting Rajesh Narayan Naik, Consul General of India in Hong Kong and Macau SARs.

Patil said Karnataka plans to showcase its globally recognised strengths in chip design, electronics, Internet of Things (IoT) technologies and its vibrant startup ecosystem to investors, venture capital funds and technology platforms in Hong Kong. He noted that this would build on the engagement initiated through Invest Hong Kong’s Bengaluru outreach programme for Indian startups.

The minister said the state government has proposed closer institutional collaboration between Invest Karnataka and the Consulate General of India in Hong Kong. As part of this, the state has sought a Karnataka-focused investment roundtable in Hong Kong and a dedicated channel to facilitate investor leads, business delegations and sector-specific follow-up.

Had a productive meeting with Shri Rajesh Narayan Naik, Consul General of India in Hong Kong & Macau, who called on me in Bengaluru today.

We held detailed discussions on leveraging Hong Kong’s position as Asia’s premier financial and global financial hub to attract greater… pic.twitter.com/niN7aRZYF1

— M B Patil (@MBPatil) July 6, 2026

He said the government also aims to attract investments from Hong Kong’s family offices, financial institutions, venture capital funds and investor networks into priority sectors such as ESDM, semiconductors, startups, fintech, clean mobility, biotechnology and advanced manufacturing.

Highlighting Hong Kong’s role as a global financial centre and a gateway to mainland China, North Asia and Southeast Asia, Patil said its free flow of capital and investor-friendly business environment offer significant opportunities for Karnataka companies looking to expand globally and raise international capital.

He noted that Karnataka and Hong Kong already share strong complementarities in electronics, telecommunications equipment and high-value manufacturing. Hong Kong-linked companies such as Lenovo, HSBC and the CLP Group already have a presence in Karnataka, he emphasised.

Referring to the growing economic relationship between India and Hong Kong, Patil said bilateral trade stood at US$ 25.81 billion in 2024-25. He expressed confidence that stronger collaboration would further enhance Karnataka’s position as a preferred destination for global investment, technology partnerships and innovation-led industrial growth.