China's Hong Kong becomes India's third largest export destination

India's exports to China's Hong Kong has jumped to nearly 11 billion U.S. dollars from April 2014 to January 2015, making it the third largest export destination of India, said local media Thursday.

Local daily The Hindustan Times quoted the Ministry of Commerce officials as saying that China's Hong Kong has become the third largest buyer of Indian goods after the United States and the United Arab Emirates, with Indian exports to China's Hong Kong attaining 10.96 billion U.S. dollars from April 2014 to January 2015, up from 6.65 billion U.S. dollars in the 2008-09 fiscal year which was from April 2008 to March 2009.

The report said 30 percent of the Indian goods sold to China's Hong Kong, mostly gems, jewelery and leather products, were locally consumed while the rest were shipped to the mainland where they were made into value-added goods before returning to Hong Kong.