Visa is not required for Indian nationals traveling to Hong Kong for a maximum stay up to 14 days.

For applicants who would like to stay in Hong Kong longer than the visa free period allowed, for example, Indians who would like to stay for more than 14 days, or foreigners who do not enjoy visa exemption privilege, visa is required. And the application should be submitted directly to Hong Kong Immigration Department or through the Chinese Embassy in India. Processing of such applications may take 4-6 weeks.

for more information, please refer to http://www.chinaembassy.org.in/eng/lssw/hzqz/t61663.htm