Union Minister of Commerce and Industry Shri Piyush Goyal concluded his official visit to Japan after a series of high-level meetings in Tokyo, Nagoya and Osaka focused on attracting Japanese investment, strengthening industrial cooperation and expanding economic ties between the two countries.
The visit brought together senior Japanese government officials, financial institutions and business leaders, with discussions involving more than 30 major Japanese companies and financial institutions. Key areas included investment, resilient supply chains, advanced technologies, manufacturing and greater business-to-business collaboration.
Focus on Japanese Investment in India
A major priority of the visit was encouraging long-term Japanese institutional investment in India. Goyal met representatives of leading financial institutions, including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley MUFG Securities.
The discussions explored ways to increase capital flows into India and support sectors such as infrastructure, manufacturing, technology and financial services. The Minister also urged Japanese investors to participate more actively in India’s next phase of economic expansion.
The visit contributed to efforts to achieve the target of JPY 10 trillion in Japanese private investment in India over the next decade, an ambition agreed during Prime Minister Narendra Modi’s visit to Japan in 2025.
Semiconductor and AI Cooperation
Semiconductors and artificial intelligence emerged as important areas of cooperation. At a dedicated roundtable, Goyal outlined India’s ambition to develop a globally competitive semiconductor ecosystem, with domestic semiconductor demand expected to reach USD 150 billion by 2032.
He highlighted a six-pillar strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development.
According to the Minister, India’s young and skilled workforce can complement Japan’s technological expertise, engineering capabilities and manufacturing strengths. He also pointed to India’s growing renewable energy capacity and reliable power infrastructure as advantages for energy-intensive industries, including semiconductor fabrication, AI and data centres.
Japanese companies participating in the discussions showed interest in expanding operations in India across semiconductor equipment and materials, power semiconductors, electronics, AI, logistics and other advanced technology segments.
The discussions also examined the infrastructure requirements of emerging semiconductor hubs such as Dholera and Sanand, including reliable electricity, ultra-pure water, skilled manpower and supporting social infrastructure.
Wider Industrial Partnerships
Goyal also chaired roundtables covering capital goods, machinery and automobiles, startups and foreign institutional investors. These meetings provided opportunities to identify investment and technology partnerships involving Indian MSMEs and Tier-II and Tier-III suppliers.
During his discussions with Japan’s Minister of Economy, Trade and Industry Akazawa Ryosei, as well as representatives of JETRO, JBIC and JICA, the Minister reviewed opportunities in trade, investment, manufacturing, technology, infrastructure and resilient supply chains.
Engagement with Japanese Business Community
At an interaction with Keidanren, Japan’s leading business federation representing more than 1,500 companies, Goyal highlighted the expanding scope of the India-Japan economic relationship. He pointed to opportunities spanning economic security, advanced technology, clean energy, manufacturing and supply-chain resilience.
Japanese business leaders expressed confidence in India’s growth prospects and indicated interest in expanding strategic investments and diversifying their presence across the country.
In Nagoya, Goyal addressed the “India-Japan Next Generation Economic Partnership” roadshow, organised with Chukeiren and other business organisations. More than 80 companies from the Chubu region participated, representing industries such as automobiles, aerospace, machine tools, semiconductors, electronics, auto components and SMEs.
India’s Growth Story
Highlighting India’s economic fundamentals, Goyal noted that the economy had recorded 7.7 per cent growth despite global uncertainties and was moving towards the long-term goal of becoming a USD 30 trillion economy by 2047.
He cited India’s expanding middle class, digital economy, banking system, renewable energy capacity and improving business environment as key factors creating opportunities for international investors.
The Minister also participated in a fireside chat moderated by Nikkei Asia, where he discussed the evolving India-Japan economic relationship with members of the business and media communities.
The visit reinforced the India-Japan Special Strategic and Global Partnership and added momentum to cooperation in trade, investment, technology and manufacturing. It also created fresh opportunities for Japanese companies to participate in India’s transformation into a globally competitive manufacturing, technology and investment hub.
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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]
