Union Commerce and Industry Minister Piyush Goyal recently wrapped up a four-day visit to Japan, a trip marked by a significant interest from Japanese businesses in boosting their investment, manufacturing, and technological collaborations with India. Accompanied by a business delegation of nearly 200 representatives, Goyal engaged with Japanese firms across diverse sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During the visit, Goyal reported that discussions had already begun to yield potential investment opportunities. Notably, a Japanese robotics company identified an Indian partner for investment, expressing intentions to potentially start manufacturing robots on Indian soil. This aligns with the broader aim of increasing the presence of Japanese companies in India. Currently, approximately 1,500 Japanese companies operate in India, and there is a concerted effort to substantially enhance Japanese investment across emerging industries.
Another key element of the trip was the initiation of talks to revisit the India-Japan Comprehensive Economic Partnership Agreement. The discussions are aimed at addressing regulatory concerns while exploring avenues for enhanced business-to-business cooperation. This reflects a mutual commitment to strengthening economic ties between the two nations.
Both India and Japan are keen to reinforce their trade and investment connections, with a target to increase bilateral trade, which is valued at $27.47 billion for the fiscal year 2025-26, and ultimately to reach an ambitious $50 billion by 2030. The efforts underscore the strategic importance both countries place on their economic relationship and the potential it holds for future growth.