Consulate General of India
Hong Kong
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India- Macau SAR Bilateral Relations
The mainstay of Macau’s economy has traditionally been tourism and casino sectors. The Government of Macau Special Administrative Region (SAR) taxes casinos for 40 percent of gaming revenue, which includes a direct tax of 35 percent and a five percent contribution for social and welfare purposes. However, in response to China's 14th Five Year Plan, in the Second Five-Year Plan for Economic and Social Development of the Macau Special Administrative Region (2021-2025), Macau government has accorded priority to economic diversification. This was reiterated in the speech by President Xi Jinping and the new Chief Executive of Macau SAR Dr. Sam Hou Fai at the latter's inauguration ceremony on 20th December, 2024. In 2022, Macau granted 10-year license extensions to the six operators managing its 30 casinos. As part of the diversification process, these concessionaires committed to investing approximately US$15 billion over the next decade, with 90 percent allocated to non-gaming investments. The share of gross gaming revenue in Macau’s total government revenue has declined from 71% of the city's GDP in 2009 to 67.5% in 2019 and just over 48% in 2023. Macau is an attractive tourist destination for Indian nationals given its proximity to India and 14 days visa free entry for Indian nationals.
2.
There is a small Indian community in Macau, majority of them are of Goan
origin. These include professionals, people in Government Departments and those
working in hotels and restaurants and in the gaming industry.
3. India
has signed two bilateral agreements with Macau. These are the Air Services
Agreement signed in February 1998 and the Agreement for the Exchange of
Information with Respect to Taxes signed in January 2012.
India- Macau SAR Bilateral Trade
$ Millions
Values in US
| Export/Import |
FY2018-19 |
FY2019-20 |
FY2020-21 |
FY2021-22 |
FY2022-23 |
FY2023-24 |
| Total |
Growth % |
Total |
Growth % |
Total |
Growth % |
Total |
Growth % |
Total |
Growth % |
Total |
Growth % |
| Indian Exports to Macau |
1.06 |
-92.45 |
6.28 |
495.2 |
8.96 |
42.6 |
12.04 |
34.4 |
4.35 |
-63.87 |
0.96 |
-77.96 |
| Indian Imports to Macau |
6.29 |
-24.1 |
5.09 |
-19.1 |
24.52 |
381.7 |
20.11 |
-18.0 |
13.4 |
-33.37 |
7.55 |
-43.66 |
| Total Bilateral Trade |
7.35 |
-66.9 |
11.37 |
54.7 |
33.48 |
194.5 |
32.15 |
-3.9 |
17.75 |
-44.80 |
8.51 |
-52.07 |
| Trade Balance |
-5.23 |
1.19 |
-15.56 |
-8.07 |
-9.05 |
-6.59 |
|
(Source:
DGCI&S, India)
4. The total trade between India and Macau was worth US$ 8.51 million in FY 2023-24, wherein India's exports to Macau were valued at US$ 0.96 million and Macau's exports to India were valued at US$ 7.55 million. Major products of export from India are Cotton, Vehicles, Articles of Leather, Pharmaceutical products, and Other made-up textile articles. Major imports from Macau included Electrical machinery, Organic chemicals, Furniture, and Raw Hides and Skins.
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