Union Commerce and Industry Minister Piyush Goyal has wrapped up a significant four-day visit to Japan, underscoring a growing interest from Japanese businesses in enhancing investment, manufacturing, and technological collaborations with India. The visit was marked by the presence of a substantial business delegation comprising nearly 200 representatives, who engaged in meetings with Japanese companies across key sectors including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
During the discussions, Goyal noted that the conversations were already paving the way for promising investment opportunities. Among the developments was a Japanese robotics company that found an Indian partner and is now considering manufacturing robots in India. This indicates a budding partnership that could bolster India’s position in the global robotics industry.
A central theme of Goyal’s visit was to augment the presence of Japanese firms in India. Currently, around 1,500 Japanese companies operate within the country, and India is keen on significantly increasing Japanese investments, particularly in emerging industries. The discussions included reviewing the India-Japan Comprehensive Economic Partnership Agreement to address regulatory concerns and enhance business-to-business cooperation.
The visit also set the stage for strengthening trade and investment ties between India and Japan. The two nations have set an ambitious target of achieving a bilateral trade value of $27.47 billion by the fiscal year 2025-26, with a long-term goal of reaching $50 billion by 2030. This reflects a mutual commitment to expanding economic interactions and fostering a robust trade relationship.