Union Commerce and Industry Minister Piyush Goyal has wrapped up a four-day trip to Japan, where he observed a strong inclination among Japanese businesses to enhance their investment and technological alliances with India. Accompanied by a business delegation of nearly 200 representatives, Goyal engaged with Japanese companies across various sectors, including robotics, semiconductors, electronics, renewable energy, and advanced manufacturing.
The discussions during the visit have already started to generate potential investment opportunities. Notably, a Japanese robotics firm has pinpointed an Indian partner for investment and is considering the possibility of manufacturing robots within India. This is part of a broader effort aimed at increasing the presence of Japanese companies in India, which currently stands at around 1,500. India seeks to significantly bolster Japanese investments, particularly in emerging industries.
A crucial aspect of Goyal’s visit was the initiation of talks to review the India-Japan Comprehensive Economic Partnership Agreement. This dialogue aims to address regulatory issues and explore possibilities for enhanced business-to-business collaboration. Both nations are keen on strengthening their trade and investment relationships, which is reflected in the current bilateral trade value projected at $27.47 billion for FY 2025-26, with an ambitious target of reaching $50 billion by 2030.
The visit underscores the mutual interest in fostering stronger economic ties, with both countries recognizing the potential for growth in their partnership. The focus on regulatory alignment and business cooperation marks a significant step towards achieving the long-term trade objectives set by India and Japan.