India and Japan are set to deepen their economic and strategic partnership as Union Minister for Commerce and Industry Shri Piyush Goyal called for greater Japanese investment and stronger business-to-business engagement during his visit to Tokyo.
Addressing a round-table with the Keidanren, Japan’s leading business federation representing more than 1,500 major companies, Goyal said bilateral ties had evolved significantly beyond conventional trade. The partnership now covers economic security, defence, resilient supply chains, technology, innovation, clean energy and people-to-people exchanges.
The Minister urged Japanese companies to expand their presence in India and called for the number of Japanese firms operating in the country to double during the current decade. He highlighted India’s improving business environment and rapidly growing economy as offering significant opportunities for investors.
The visit also assumes importance as India and Japan have designated 2026 as the “India-Japan Year of Shared Horizons” to commemorate 75 years of diplomatic relations.
Focus on Investment and Semiconductor Cooperation
During his engagements in Tokyo, Goyal held discussions with senior executives from several leading Japanese corporations, including Sumitomo Corporation, Meiji Seika Pharma, Mitsubishi Corporation, Tokyo Electron and MinebeaMitsumi.
The meetings examined opportunities to expand existing operations and increase investments in India. Particular attention was given to semiconductor manufacturing, an increasingly important area of cooperation between the two countries.
At Tokyo Electron, Goyal met senior officials involved in the company’s India operations. He also met Katsuhiko Yoshida, Director, President, COO and CFO of MinebeaMitsumi, who is overseeing the company’s semiconductor plant project in India.
The discussions underline the growing role of semiconductor manufacturing in India-Japan economic cooperation, with both countries seeking to build secure and diversified technology supply chains.
Strategic Dimension of Bilateral Ties
Goyal also met Ichikawa Keiichi, Secretary General of Japan’s National Security Secretariat, at the Kantei. The meeting highlighted the strategic and security dimensions of the relationship alongside the expanding economic partnership.
The discussions come against the backdrop of increasing global emphasis on resilient supply chains and economic security. India and Japan have been working to strengthen cooperation in critical technologies, advanced manufacturing and other strategic sectors.
Strengthening Manufacturing and MSME Linkages
The Minister subsequently participated in a round-table focusing on capital goods, machinery and the automotive industry. Around 70 businesses from India and Japan participated in the interaction.
The meeting explored ways to connect Japanese companies more closely with India’s Tier-II and Tier-III supplier ecosystem. Discussions also covered technology partnerships and opportunities for Micro, Small and Medium Enterprises (MSMEs).
Goyal highlighted the considerable potential for cooperation in capital goods, machinery, automobiles and advanced manufacturing. He encouraged Japanese businesses to deepen their integration with India’s manufacturing base and contribute to stronger domestic and global supply chains.
The engagement is expected to create opportunities for Indian suppliers and MSMEs to become more closely integrated with Japanese manufacturing networks.
Largest-Ever Indian Business Delegation to Japan
Goyal arrived in Tokyo to lead India’s largest-ever business delegation to Japan, comprising more than 200 representatives from sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.
The four-day visit, from August 24 to 27, covers Tokyo, Nagoya and Osaka and is aimed at strengthening trade and investment relations under the India-Japan Special Strategic and Global Partnership.
The delegation has been jointly constituted by major Indian industry associations in coordination with the Ministry of Commerce and Industry. Representatives have been nominated by FICCI, CII and ASSOCHAM.
The Minister also participated in a fireside chat moderated by Nikkei Asia, where he outlined the expanding economic relationship and opportunities arising from India’s growth, technological transformation and integration with global value chains.
The latest engagements reinforce the momentum in India-Japan relations and underline a shared focus on investment, technology, manufacturing, supply-chain resilience and sustainable economic growth.
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Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
