Union Commerce and Industry Minister Piyush Goyal is encouraging leading Japanese corporations and financial institutions to expand their presence in India, highlighting opportunities emerging across several critical areas of the economy. His outreach comes as New Delhi works to strengthen commercial ties with Japan and attract greater international investment.
During the third day of his official visit to Japan, Goyal held discussions with senior representatives from Toyota Tsusho Corporation, Sumitomo Mitsui Banking Corporation (SMBC) Group, Mitsubishi UFJ Financial Group (MUFG) and Nippon Life Insurance. The meetings covered potential areas for collaboration spanning trade, mobility, industrial activity, banking, commercial finance, investment and insurance.
Goyal’s discussion with Toyota Tsusho President and CEO Toshimitsu Imai centered on expanding the company’s engagement with India. The minister emphasized the country’s competitive cost structure and its potential to serve as an important export base for businesses seeking access to emerging markets.
Financial cooperation was another major focus of the minister’s meetings. With Yoshihiro Hyakutome, Deputy President Executive Officer at SMBC Group, Goyal explored ways to strengthen financial links between India and Japan, particularly by encouraging greater investment and collaboration within the banking industry.
Goyal also met MUFG Deputy Chairman Yasushi Itagaki and other senior executives to discuss opportunities in banking, commercial finance and investment. He pointed to India’s rapidly evolving financial ecosystem as an area where Japanese institutions could establish deeper and broader partnerships.
Insurance was also highlighted during Goyal’s engagement with Minoru Kimura, Managing Executive Officer and Head of Global Business at Nippon Life Insurance. Their discussions examined opportunities to increase cooperation between the two countries in insurance and financial services, with Goyal emphasizing the considerable potential created by India’s expanding insurance market.
The minister’s meetings form part of India’s broader effort to deepen economic engagement with Japan. By presenting opportunities across manufacturing, exports, financial services and insurance, New Delhi is seeking to encourage Japanese businesses and institutions to participate more actively in India’s growth story.
The outreach also reflects India’s push to strengthen its position as an attractive destination for global capital while building long-term economic partnerships with major international markets.
