Union Commerce and Industry Minister Piyush Goyal recently wrapped up a productive four-day visit to Japan, emphasizing the growing interest among Japanese businesses in boosting their investments and technological collaborations with India. The visit, which involved a business delegation of nearly 200 representatives, saw interactions with Japanese firms in sectors such as robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During the visit, Goyal noted that discussions with Japanese companies were already leading to potential investment opportunities. Notably, a Japanese robotics company identified an Indian partner for investment and is considering manufacturing robots in India. This development underscores the visit’s success in fostering business partnerships that could enhance India’s manufacturing capabilities and technological prowess.
A significant objective of the visit was to increase the presence of Japanese companies in India. Currently, about 1,500 Japanese firms operate in India, but there is a concerted effort to expand their footprint, particularly in emerging industries. This aligns with India’s broader strategy to attract Japanese investments and strengthen its industrial base.
In addition to fostering business partnerships, the two nations initiated discussions on revising the India-Japan Comprehensive Economic Partnership Agreement. This dialogue aims to address regulatory challenges and unlock new opportunities for business-to-business cooperation, thereby enhancing economic ties between the countries.
India and Japan are committed to deepening their trade and investment relations, with bilateral trade projected to reach $27.47 billion in the fiscal year 2025-26. The long-term ambition is to elevate this trade volume to $50 billion by 2030, reflecting the strategic importance both countries place on their economic partnership.