During a recent four-day visit to Japan, Union Commerce and Industry Minister Piyush Goyal emphasized the increasing interest of Japanese businesses in boosting investment and forging manufacturing and technology alliances with India. Accompanied by a business delegation comprising nearly 200 representatives, Goyal engaged with Japanese companies across a range of sectors, including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
The discussions held during the visit have already started yielding potential investment opportunities. Notably, a Japanese robotics firm has identified an Indian partner with whom it intends to invest and explore the potential for manufacturing robots in India. This development underscores the mutual interest in strengthening business relationships and exploring new avenues for collaboration.
One of the primary objectives of the visit was to increase the presence of Japanese companies in India. Currently, around 1,500 Japanese firms operate in the country, and India is keen to significantly expand Japanese investment, particularly in emerging industries. The visit also saw the initiation of talks aimed at reviewing the India-Japan Comprehensive Economic Partnership Agreement, focusing on addressing regulatory concerns and promoting greater business-to-business cooperation.
India and Japan are actively working towards enhancing their trade and investment relations. The bilateral trade between the two nations is projected to reach $27.47 billion in the fiscal year 2025-26, with a long-term vision of achieving $50 billion by 2030. These targets reflect the commitment of both countries to deepen their economic ties and explore new opportunities for collaboration in various sectors.