Union Minister for Commerce and Industry Shri Piyush Goyal has called for deeper India-Japan cooperation in semiconductors and artificial intelligence (AI), describing the two sectors as critical to strengthening economic security, technological capabilities and industrial partnerships between the two countries.
Shri Goyal made the remarks while chairing a high-level roundtable with leading Japanese and Indian industry representatives in Tokyo. The meeting brought together major Japanese companies, Indian business chambers and industry delegations to explore opportunities for investment, innovation, manufacturing and technology collaboration.
Semiconductors and AI Emerge as Strategic Priorities
The Minister said semiconductors and AI are increasingly becoming important areas of cooperation under the India-Japan economic security partnership envisaged by Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi during their Annual Summit.
Assuring industry representatives of the Government of India’s support, Shri Goyal said New Delhi is committed to facilitating stronger collaboration between Japanese and Indian companies in these strategically important sectors.
India’s semiconductor market is expected to expand significantly, with domestic demand projected to reach around USD 150 billion by 2032. The Minister outlined India’s comprehensive approach to developing the semiconductor ecosystem, covering chip design, semiconductor equipment and materials, fabrication, ATMP and OSAT facilities, research and development, and skilled workforce development.
Major Push Under Semicon India Initiatives
Shri Goyal highlighted the scale of government support for the sector. Under Semicon India 1.0, the government has committed USD 10 billion, while a further USD 15 billion has been earmarked under Semicon India 2.0.
The initiatives are aimed at attracting large-scale investments and establishing an integrated semiconductor ecosystem capable of supporting manufacturing, design, research and innovation within the country.
The Minister also stressed the complementary strengths of India and Japan. While India possesses a large pool of skilled professionals and technology talent, Japan brings advanced technologies, engineering expertise and extensive industrial experience. Combining these strengths, he said, could open new avenues for investment, technology transfer, manufacturing and joint innovation.
Leading Japanese Companies Participate
Representatives from around 21 prominent Japanese companies participated in the roundtable. These included Tokyo Electron, Daifuku, Preferred Networks, ABEJA, MinebeaMitsumi, Tanaka Precious Metals Technologies, Fujifilm Holdings, Toray Industries, Nippon Express Holdings, Mizuho Financial Group, Kyocera Corporation, Fuji Electric, TOK, Air Water Inc., ROHM, Tomoegawa Corporation, MUFG Bank, NEC Corporation, Yamaya Electronics, ANA Trading and JETRO.
The participating companies expressed confidence in India’s expanding semiconductor and AI ecosystem. They reaffirmed their interest in supporting the country’s Make in India, Design in India and Develop in India initiatives.
Several companies also shared details about their existing operations, capabilities and project execution in India and discussed opportunities for expanding their presence.
Government Assures Industry of Faster Resolution
During the interaction, Japanese industry representatives raised suggestions and concerns related to their business activities and investments in India.
Responding to the issues, Shri Goyal assured the participants that the Government of India would proactively address their concerns. He said the government would continue engaging with industry through the Embassy of India in Tokyo as well as relevant ministries and departments in New Delhi.
The Minister emphasised that India recognises the substantial potential of the bilateral partnership in semiconductors and AI and would work towards ensuring faster and more effective outcomes.
India-Japan Economic Cooperation Reviewed
Earlier on August 25, Shri Goyal held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, in Tokyo.
The two Ministers reviewed the progress of bilateral economic cooperation, including trade and investment. They also discussed the importance of accelerating the review of the India-Japan Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and better aligned with emerging economic opportunities.
Discussions also covered new and emerging sectors, next-generation industries, manufacturing, technology and innovation.
The Ministers noted continued progress towards the target of JPY 10 trillion in private investment from Japan into India. The ongoing cooperation is expected to further strengthen the India-Japan Special Strategic and Global Partnership and deepen economic and technological engagement between the two countries.
Also Read: India-Japan Economic Partnership Gains Momentum as Piyush Goyal Leads Major Business Delegation
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]
