Piyush Goyal, the Union Commerce and Industry Minister, has wrapped up a significant four-day visit to Japan, underscoring the keen interest of Japanese businesses in enhancing their investment, manufacturing, and technology collaborations with India. Accompanying Goyal was a substantial business delegation comprising nearly 200 representatives, who engaged with Japanese companies in diverse sectors, including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
The discussions held during the visit have already begun to yield promising investment prospects. Notably, a Japanese robotics company has identified an Indian partner for investment, with plans to explore the manufacturing of robots within India. This development is part of a broader initiative aimed at increasing the presence of Japanese companies in the Indian market. Currently, about 1,500 Japanese companies operate in India, with efforts underway to significantly boost Japanese investment across emerging sectors.
During the visit, the two countries initiated discussions to review the India-Japan Comprehensive Economic Partnership Agreement, addressing regulatory challenges and exploring opportunities for enhanced business-to-business collaboration. This dialogue is seen as a crucial step towards deepening economic ties and fostering a more conducive environment for trade and investment between the two nations.
Both India and Japan are committed to strengthening their trade and investment relationship, with bilateral trade projected to reach $27.47 billion in the fiscal year 2025-26. The long-term objective is even more ambitious, aiming for bilateral trade to hit the $50 billion mark by 2030. These goals reflect the shared commitment of both nations to unlock new avenues for economic growth and cooperation.
