Union Commerce and Industry Minister Piyush Goyal recently concluded a significant four-day visit to Japan, where he showcased the growing interest of Japanese businesses in enhancing their investment and technological collaborations with India. Accompanied by a business delegation comprising nearly 200 representatives, Goyal held meetings with Japanese enterprises from various sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
The discussions during the visit have already paved the way for potential investment opportunities. Notably, a Japanese robotics firm has identified an Indian partner for investment and is considering the possibility of manufacturing robots within India. This development underscores the visit’s focus on increasing the presence of Japanese companies in India, where around 1,500 Japanese firms are already operational. India is keen on significantly boosting Japanese investments, particularly in emerging industries.
A major component of this visit was the initiation of talks to review the India-Japan Comprehensive Economic Partnership Agreement. Both countries are keen on addressing regulatory challenges and are exploring avenues for enhanced business-to-business cooperation, aiming to strengthen their economic ties further.
India and Japan are setting ambitious targets to bolster their trade and investment relations. The bilateral trade between the two nations is projected to be valued at $27.47 billion in the fiscal year 2025-26, with a long-term aspiration to reach $50 billion by 2030. This visit marks a strategic step towards achieving these goals by fostering deeper economic engagement between the two countries.