Indian Economy News

Union Minister of Commerce & Industry Mr. Piyush Goyal invites Japanese businesses to deepen investments and partnerships in India

Union Minister of Commerce and Industry Mr. Piyush Goyal invited Japanese businesses to deepen investments and partnerships in India, highlighting the growing strategic and economic relationship between the two countries. Addressing a dinner hosted by the Government of Uttar Pradesh for a Japanese delegation from Yamanashi Prefecture, he said India and Japan share common aspirations for peace, progress and prosperity and can leverage complementary strengths across manufacturing, technology, infrastructure, energy, defence and the green and blue economy. Highlighting Uttar Pradesh’s growing economic potential, he noted that the State’s large population, improving connectivity, industrial momentum and skilled workforce provide a strong platform for Japanese technology and expertise. India and Japan are targeting deeper cooperation in artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility, with Japan targeting investment of 10 trillion yen in India over the next decade.

The growing partnership is reflected in major infrastructure and industrial projects, including the Mumbai-Ahmedabad High-Speed Rail project, Japanese-assisted metro systems and 11 Japanese industrial townships across eight States. More than 1,400 Japanese companies are operating in India, while bilateral trade reached US$ 27.5 billion in FY26, with Japan becoming India’s fifth-largest source of foreign direct investment. Uttar Pradesh, which has more than 9 million MSMEs and is India’s fifth-largest State exporter, offers further opportunities through Jewar International Airport, Yamuna Expressway, the JICA-supported Western Dedicated Freight Corridor and 27 industrial clusters spanning defence, semiconductors and electronics. The Minister is scheduled to visit Japan from August 24-27, 2026, to advance economic cooperation and strengthen the Special Strategic and Global Partnership. The expanding engagement is expected to support investment, manufacturing, technology transfer, employment and stronger integration between Indian and Japanese businesses.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.