India wants to deepen business ties with Japan, with Piyush Goyal urging a stronger corporate partnership and more investment…reports Asian Lite News Desk
Union Commerce and Industry Minister Piyush Goyal has called for the number of Japanese companies operating in India to double during the current decade, as New Delhi seeks to deepen economic and business ties with Tokyo.
Addressing a roundtable meeting with the Japan-India Business Consultative Committee (JIBCC) of the Japan Chamber of Commerce and Industry (JCCI) and the Embassy of India on Monday, Goyal said there was significant scope to expand the economic partnership between the two countries.
“India already hosts a large number of Japanese companies. I believe that this decade should see that number double from the current levels,” Goyal said.
The minister is on a four-day visit to Japan aimed at strengthening bilateral economic engagement. He is leading a delegation of nearly 200 businesses, with representatives from a range of sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.
Goyal said India and Japan were entering an important period for their relationship, with the two countries’ leaders having designated 2026 as the “India-Japan Year of Shared Horizons” to mark 75 years of diplomatic relations.
He said the anniversary provided an opportunity to look beyond traditional government-to-government relations and strengthen cooperation between businesses in both countries.
“We are looking at Japan being our partner in this journey as we progress from a USD 4 trillion economy today to a USD 30 trillion economy by 2047, when we celebrate 100 years of independence. It’s an ambitious target, but 1.4 billion Indians are committed to making this happen,” Goyal said.
The minister stressed that India believed in the principle of continuous improvement and said Japan could play an important role in the country’s economic development.
“There is no better moment” to discuss the future of the India-Japan partnership and explore ways to deepen collaboration between businesses over the next decade, Goyal said.
His visit is focused on expanding commercial engagement and encouraging Japanese investment in India, while also creating opportunities for Indian companies to strengthen their presence in Japan.
The business delegation is scheduled to visit Tokyo, Nagoya and Osaka during the four-day trip. Meetings with Japanese companies and business leaders will focus on sectors considered important to the future of both economies.
The visit will conclude in Osaka with an Investors and Business Roadshow, as well as meetings with leading Japanese companies operating in electronics, industrial products and consumer sectors.
The push for greater Japanese investment comes against the backdrop of an established economic relationship between the two countries. Japanese companies have already developed a significant presence in India, particularly in areas such as automobiles, manufacturing and infrastructure.
The two governments have also sought to strengthen cooperation in emerging sectors, including semiconductors, clean energy and advanced manufacturing.
Goyal’s comments come as India seeks to attract greater foreign investment as part of its broader economic expansion plans. Japanese businesses, meanwhile, are looking at opportunities in India’s large consumer market and growing manufacturing capabilities.
According to government data, bilateral trade between India and Japan stood at USD 27.47 billion during the financial year 2025-26.
During the period, Japan’s exports to India were valued at USD 21.43 billion, while India’s imports from Japan stood at USD 6.04 billion.
The trade figures highlight the scale of the existing relationship but also point to the scope for further expansion, particularly through greater investment and business-to-business cooperation.
Goyal’s visit is therefore aimed not only at strengthening existing commercial ties but also at identifying new areas of collaboration that could support both countries’ economic priorities.
With 2026 marking 75 years of diplomatic relations, India and Japan are seeking to use the milestone to build a stronger economic partnership. The Indian government’s push to double the number of Japanese companies operating in India is expected to form part of that broader effort to expand investment, trade and industrial cooperation.
