Surprise Surprise :). Indian passport holders do not need any visa to enter Hong Kong as a tourist for 14 days. In fact they do not even stamp your passport at immigration. You can just land up at Hong Kong with your passport and an address to stay in Hong Kong.
Immigration is really quick and for me it lasted for 1 minute as follows :
Q. Is this your first visit to Hong Kong ?
Me : Yes.
Q. How long you will be here ?
Me : For 4 days
Q. Do you have your return flight ?
Me : Yes (Showed the officer my return flight ticket copy).
Officer returned my passport and signaled to proceed further.
You will be given a copy of your arrival card along with passport. Make sure you keep it carefully with you till your departure as you might be asked for it while returning.
Have a good stay in Hong Kong.