Union Commerce and Industry Minister Piyush Goyal has wrapped up a four-day visit to Japan, underscoring the keen interest Japanese businesses have in expanding their investments, manufacturing capabilities, and technology partnerships with India. Accompanied by a business delegation of nearly 200 representatives, Goyal engaged with Japanese firms across various sectors, including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
The visit has already begun to yield potential investment opportunities, according to Goyal. Notably, a Japanese robotics company has identified an Indian partner for investment and is planning to explore the manufacturing of robots in India. This marks a significant step towards enhancing collaboration between the two nations in emerging industries.
A significant focus of Goyal’s trip was to increase the number of Japanese companies operating in India. Currently, about 1,500 Japanese businesses have a presence in the country, but India aims to significantly boost this number by attracting more Japanese investments across burgeoning sectors.
During the visit, discussions were also initiated on reviewing the India-Japan Comprehensive Economic Partnership Agreement. Both countries are eager to address regulatory concerns and create opportunities for enhanced business-to-business cooperation. As a part of their long-term strategy, India and Japan are targeting stronger trade and investment ties.
The bilateral trade between the two nations is projected to reach $27.47 billion by the fiscal year 2025-26, with an ambitious goal of achieving $50 billion by 2030. This visit and the ensuing discussions reflect the commitment of both nations to deepen their economic partnership and mutual growth.