Union Commerce and Industry Minister Piyush Goyal wrapped up a four-day visit to Japan, emphasizing a strong interest from Japanese enterprises in boosting investment, manufacturing, and technological collaborations with India. Accompanying Goyal was a business delegation consisting of nearly 200 representatives, who engaged with Japanese companies spanning various sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During the visit, Goyal noted that business discussions had already begun to generate potential investment opportunities. Notably, a Japanese robotics firm identified an Indian partner for investment and is planning to explore the possibility of manufacturing robots in India. A significant aspect of Goyal’s visit was to increase the presence of Japanese companies in India. Currently, around 1,500 Japanese firms operate in India, but the country is keen on significantly boosting Japanese investments across emerging industries.
The two nations also initiated talks on revisiting the India-Japan Comprehensive Economic Partnership Agreement. These discussions aim to address regulatory concerns and create avenues for enhanced business-to-business cooperation. Strengthening trade and investment ties remains a priority for both countries, with bilateral trade projected to reach $27.47 billion in the fiscal year 2025-26, and a long-term objective of hitting the $50 billion mark by 2030.
The visit underscored the mutual commitment of India and Japan to fortify their economic partnership, with a focus on the burgeoning sectors that promise to be the new engines of growth. As both countries eye this expansion, the groundwork laid during these discussions sets the stage for future collaborations and stronger economic ties.