Commerce and Industry Minister Piyush Goyal’s visit to Japan has given fresh momentum to efforts to strengthen trade, investment, technology and industrial cooperation between India and Japan.
Goyal concluded his official visit after a series of high-level engagements in Tokyo, Nagoya and Osaka, where he met senior Japanese government officials, financial institutions and business leaders to accelerate Japanese investment in India and expand bilateral economic cooperation.
The minister held discussions with executives and leadership from more than 30 major Japanese companies and financial institutions with significant or growing interests in India. The engagements focused on expanding investment, strengthening resilient supply chains, advancing technology partnerships and creating new opportunities for business-to-business collaboration.
A key priority during the visit was attracting long-term Japanese institutional capital to India. Goyal engaged with leading financial institutions including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley MUFG Securities to explore opportunities for increasing capital flows into India’s infrastructure, manufacturing, technology and financial sectors.
The minister also chaired sector-specific roundtables involving Indian and Japanese businesses. Discussions focused on identifying concrete investment and technology partnerships, particularly opportunities involving India’s Tier-II and Tier-III supplier networks and micro, small and medium enterprises.
Goyal highlighted India’s plans to develop a globally competitive semiconductor ecosystem, with semiconductor demand projected to reach $150 billion by 2032. He outlined the government’s six-pillar approach covering chip design, semiconductor machinery and materials, fabrication, ATMP and OSAT, research and development, and talent development.
During the visit, Goyal met Japan’s Minister of Economy, Trade and Industry Akazawa Ryosei, along with senior representatives of JETRO, JBIC and JICA. Their discussions covered trade and investment, resilient supply chains, manufacturing, technology, infrastructure and greater participation of Japanese companies in India’s economic growth.
In Nagoya, Goyal addressed the India-Japan Next Generation Economic Partnership roadshow, organised with Chukeiren and other leading business organisations. More than 80 Japanese companies from the Chubu region participated, with discussions spanning automobiles, aerospace, machine tools, semiconductors, electronics, auto components and SMEs.
The visit is expected to further strengthen the India-Japan Special Strategic and Global Partnership while creating new avenues for investment, innovation, manufacturing and long-term industrial collaboration.
