Union Commerce and Industry Minister Piyush Goyal recently wrapped up a four-day visit to Japan, emphasizing the growing enthusiasm among Japanese businesses for increasing their investment, manufacturing, and technology collaborations with India. Accompanied by a delegation of nearly 200 business representatives, Goyal engaged in meetings with Japanese companies spanning various sectors, including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During these discussions, there were already signs of promising investment prospects. Notably, a Japanese robotics firm identified a potential Indian partner for investment, with plans to consider manufacturing robots in India. This visit also concentrated on boosting the number of Japanese companies operating in the country. Currently, about 1,500 Japanese enterprises have a presence in India, but there is a strategic push to considerably expand Japanese investments in emerging industries.
In addition to exploring business ventures, the two nations initiated talks to review the India-Japan Comprehensive Economic Partnership Agreement. These discussions aim to address regulatory issues and unlock opportunities for enhanced business-to-business cooperation. By tightening these economic ties, both countries hope to facilitate smoother trade relations and investment flows.
India and Japan are working towards strengthening their trade and investment relationship. The bilateral trade between the two countries is projected to reach $27.47 billion in the fiscal year 2025-26, with an ambitious long-term objective of achieving $50 billion by 2030. Such targets reflect the mutual commitment to deepening economic engagements and fostering a robust partnership in various industries.