Union Commerce and Industry Minister Piyush Goyal recently wrapped up a significant four-day visit to Japan, underscoring a growing interest from Japanese companies in expanding their investments and technological collaborations in India. Accompanied by a substantial business delegation of nearly 200 representatives, Goyal engaged with companies across various sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing. His visit aimed to bolster the already strong economic ties between India and Japan.
During the visit, discussions with Japanese businesses revealed promising investment opportunities. Notably, a Japanese robotics company identified an Indian partner, laying the groundwork for potential investment and plans for manufacturing robots in India. This is part of a broader effort to increase the presence of Japanese firms in India, with current figures showing approximately 1,500 Japanese companies operating in the country. The Indian government is keen on significantly expanding this number, particularly in emerging industries.
A pivotal aspect of Goyal’s visit involved talks on reviewing the India-Japan Comprehensive Economic Partnership Agreement. These discussions aimed at addressing regulatory issues and enhancing business-to-business cooperation between the two nations. By tackling these concerns, both countries hope to pave the way for a more conducive environment for trade and investment.
The visit also emphasized the shared goals of India and Japan in strengthening their trade and investment relations. With bilateral trade projected to reach $27.47 billion in the fiscal year 2025-26, both nations are setting their sights on a long-term target of $50 billion by 2030. These ambitious targets reflect the commitment of both countries to deepen their economic partnership further.