Union Commerce and Industry Minister Piyush Goyal recently completed a four-day visit to Japan, emphasizing the burgeoning interest among Japanese businesses in bolstering investments and forging technology partnerships with India. Accompanied by a business delegation of nearly 200 representatives, Goyal engaged in discussions with companies across various sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During his visit, Goyal highlighted that initial business discussions have already set the stage for potential investments. Notably, a Japanese robotics firm has identified an Indian partner, paving the way for future investments and plans to explore the manufacturing of robots in India. This development aligns with India’s goal to significantly increase the presence of Japanese companies within its borders, which currently number around 1,500.
A central theme of Goyal’s visit was to encourage more Japanese enterprises to establish operations in India, especially in emerging industries. The discussions also included a review of the India-Japan Comprehensive Economic Partnership Agreement, addressing regulatory issues, and exploring further opportunities for business-to-business collaboration.
Both nations are focused on strengthening their trade and investment relations. The bilateral trade between India and Japan is anticipated to reach $27.47 billion by the fiscal year 2025-26, with an ambitious long-term target of $50 billion by 2030. These discussions mark a significant step towards enhancing economic ties and expanding the scope of cooperation between the two countries.