Union Commerce and Industry Minister Piyush Goyal recently wrapped up a productive four-day visit to Japan, where he emphasized the growing interest among Japanese businesses in enhancing their investment, manufacturing, and technology collaborations with India. Accompanied by a business delegation of approximately 200 representatives, Goyal engaged with Japanese companies operating in key sectors such as robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During the visit, discussions on potential investment opportunities began to take shape. Notably, a Japanese robotics firm identified an Indian partner for investment and is now considering the production of robots within India. This marks a significant step towards strengthening business ties and expanding the technological landscape in India.
A central aim of the visit was to increase the presence of Japanese firms in India, where about 1,500 Japanese companies are currently active. The Indian government is keen on boosting Japanese investments across emerging industries, furthering the economic partnership between the two nations. This initiative aligns with broader discussions on revising the India-Japan Comprehensive Economic Partnership Agreement, which seeks to address regulatory issues and enhance business-to-business cooperation.
Both countries are eyeing robust trade and investment ties, with a current bilateral trade value projected at $27.47 billion for the fiscal year 2025-26. Looking ahead, India and Japan have set an ambitious target of reaching $50 billion in bilateral trade by 2030. The discussions and engagements during Goyal’s visit underscore the commitment to achieving these economic goals, fostering a mutually beneficial relationship.