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Piyush
Goyal Concludes Japan Visit; Calls for Greater Japanese Investment and Stronger
Industrial Partnerships with India
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Goyal
Highlights India’s Six-Pillar Semiconductor Strategy; Invites Japanese Technology
and Investment
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Japanese
Companies Express Interest in Expanding Presence in India’s Semiconductor and Advanced
Technology Ecosystem
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Goyal
Pushes for JPY 10 Trillion Japanese Private Investment in India Over Next Decade
·
Commerce
and Industry Minister Piyush Goyal
concluded his official visit to Japan after high-level engagements in Tokyo, Nagoya and Osaka
to deepen India-Japan economic cooperation.
·
He met
senior Japanese government officials, financial institutions and leaders of more than 30 major Japanese
companies to promote investment and industrial partnerships.
·
Discussions
focused on:
o Japanese investment in India
o Resilient supply chains
o Technology partnerships
o Manufacturing cooperation
o Business-to-business collaboration
·
Goyal
sought to mobilise long-term
Japanese institutional capital for India’s infrastructure,
manufacturing, technology and financial sectors.
·
He
held discussions with major institutions including MUFG, Mizuho, Nomura, Nippon Life,
Development Bank of Japan and Morgan Stanley MUFG Securities.
·
Sector-specific
roundtables covered:
o Capital goods, machinery and automotive
o Semiconductors and AI
o Startups
o Foreign institutional investment
·
The
meetings explored partnerships involving Japanese
companies, Indian MSMEs and Tier-II/Tier-III suppliers.
·
At the
Semiconductor and AI
Roundtable, Goyal highlighted India’s projected semiconductor
demand of US$150 billion
by 2032.
·
India’s
semiconductor strategy is based on six pillars:
1.
Chip
design
2.
Semiconductor
machinery and materials
3.
Fabrication
4.
ATMP/OSAT
5.
R&D
6.
Talent
development
·
Japanese
companies showed interest in expanding in India in semiconductor materials and equipment,
power semiconductors, electronics, AI and logistics.
·
Discussions
also covered infrastructure requirements for semiconductor clusters such as Dholera and Sanand, including
reliable power, ultra-pure water, skilled manpower and social infrastructure.
·
Goyal
met Japan’s Minister of
Economy, Trade and Industry Akazawa Ryosei, along with senior
representatives of JETRO,
JBIC and JICA.
·
With Keidanren, representing
more than 1,500 Japanese companies, Goyal promoted cooperation in economic security, resilient supply
chains, advanced technology, clean energy and defence-related manufacturing.
·
In Nagoya, more than 80 Japanese companies
participated in the “India-Japan Next Generation Economic Partnership”
roadshow.
·
The
Nagoya discussions covered automobiles,
aerospace, machine tools, semiconductors, electronics, auto components and SMEs.
·
Goyal
highlighted the potential to combine India’s
young talent pool with Japan’s technological, engineering and
manufacturing capabilities.
·
He
stated that India recorded 7.7%
economic growth despite global headwinds and is targeting a US$30 trillion economy by 2047.
·
The
visit advanced the goal of attracting JPY
10 trillion in Japanese private investment in India over the next decade,
agreed during Prime Minister Narendra Modi’s 2025 Japan visit.
·
Priority
areas for Japanese investment include manufacturing,
infrastructure, financial services, semiconductors, AI, clean energy and other
next-generation industries.
·
Key
takeaway: The
visit aims to shift India-Japan economic ties beyond traditional trade toward large-scale investment, advanced
manufacturing, semiconductor and AI cooperation, resilient supply chains and
technology partnerships, supporting India’s ambition to become
a global manufacturing and technology hub.
Union
Minister of Commerce and Industry, Piyush Goyal, concluded his official visit to
Japan on Wednesday, following a series of high-level engagements in Tokyo, Nagoya
and Osaka aimed at accelerating Japanese investment in India, strengthening industrial
partnerships and expanding bilateral economic cooperation across emerging and strategic
sectors.
During
the visit, Mr. Goyal held extensive discussions with senior Japanese government
leaders, financial institutions and business executives, including the leadership
of more than 30 major Japanese companies and financial institutions with significant
or growing interests in India. The engagements focused on expanding investment,
strengthening resilient supply chains, advancing technology partnerships and creating
new avenues for business-to-business collaboration between the two countries.
A
key focus of the visit was mobilising long-term Japanese institutional capital for
India. Mr. Goyal engaged with leading Japanese financial institutions, including
MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley
MUFG Securities, besides other major investment and financial institutions. The
discussions explored opportunities to deepen capital flows into India and support
the country’s expanding infrastructure, manufacturing, technology and financial
ecosystem.
The
Minister also chaired sector-specific roundtables on Capital Goods, Machinery and
Automotive; Semiconductors and Artificial Intelligence; Startups; and Foreign Institutional
Investors. The interactions brought together a wide cross-section of Japanese and
Indian businesses and provided a platform for identifying concrete investment, technology
and commercial partnerships, particularly involving India’s Tier-II and Tier-III
supplier ecosystem and MSMEs.
At
the Semiconductor and AI Roundtable, Mr. Goyal highlighted India’s ambition to build
a globally competitive semiconductor ecosystem, with semiconductor demand projected
to reach USD 150 billion by 2032. He outlined the Government’s six-pillar strategy
covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT,
research and development, and talent development.
Mr.
Goyal emphasised that India’s large pool of skilled and young talent, combined with
Japan’s cutting-edge technology, engineering expertise and manufacturing capabilities,
can catalyse a world-class semiconductor and technology revolution in India. He
also highlighted India’s expanding renewable energy capacity and robust national
power grid as important enablers for energy-intensive industries such as semiconductor
manufacturing, artificial intelligence and data centres.
Japanese
companies participating in the semiconductor and AI discussions expressed interest
in expanding their presence in India across semiconductor materials and equipment,
power semiconductors, electronics, artificial intelligence, logistics and related
advanced technologies. Discussions also covered supporting infrastructure, including
reliable power, ultra-pure water, skilled manpower and social infrastructure in
emerging semiconductor clusters such as Dholera and Sanand.
The
Minister held discussions with Japan’s Minister of Economy, Trade and Industry,
H.E. Mr. Akazawa Ryosei, as well as senior representatives of JETRO, JBIC and JICA.
The discussions covered trade and investment, resilient supply chains, manufacturing
cooperation, technology, infrastructure and greater participation of Japanese companies
in India’s growth story.
In
his interaction with Keidanren (Japan Business Federation), representing more than
1,500 leading Japanese companies, Mr. Goyal underlined the widening scope of the
India-Japan economic partnership, encompassing traditional trade as well as economic
security, resilient supply chains, advanced technology, clean energy, defence-related
manufacturing and people-to-people linkages. He invited Japanese companies to scale
up investments and expand their presence in India.
Japanese
business leaders warmly welcomed the Minister and appreciated his accessibility
and active dialogue on key issues. Reaffirming their strong confidence in India’s
growth story, business leaders expressed their commitment to expanding strategic
engagements and diversifying investments across India.
Mr.
Goyal also addressed the “India-Japan Next Generation Economic Partnership” roadshow
in Nagoya, organised in collaboration with Chukeiren and
other leading business organisations. More than 80 Japanese companies from the Chubu
region participated in the roadshow, with discussions covering automobiles, aerospace,
machine tools, semiconductors, electronics, auto components and SMEs. Mr. Goyal
emphasised that the combination of India’s youthful talent pool with the Chubu region’s
technological and engineering strengths offers significant scope for new manufacturing
and technology partnerships.
Highlighting
India’s strong economic fundamentals, Mr. Goyal noted that the Indian economy recorded
7.7 per cent growth despite global headwinds and is progressing towards the ambition
of becoming a USD 30 trillion economy by 2047. He underlined that India’s large
and increasingly aspirational middle class, expanding digital economy, robust banking
sector, renewable energy capacity and improving business environment are creating
significant opportunities for long-term investors.
The
visit also advanced efforts towards the target of JPY 10 trillion in Japanese private
investment in India over the next decade, agreed upon during Prime Minister Mr.
Narendra Modi’s visit to Japan in 2025. Mr. Goyal called for greater participation
of Japanese institutional investors and companies in India’s next phase of growth,
particularly in manufacturing, infrastructure, financial services, semiconductors,
AI, clean energy and other next-generation industries.
The
Minister also participated in a fireside chat moderated by Nikkei Asia, engaging
with the Japanese and Indian business and media communities on the evolving contours
of the bilateral economic relationship.
The
visit reaffirmed the strong momentum in the India-Japan Special Strategic and Global
Partnership and provided fresh impetus to efforts to deepen trade, investment, technology
and industrial cooperation. It strengthened the foundation for greater Japanese
participation in India’s transformation into a globally competitive manufacturing,
technology and investment hub, while opening new avenues for mutually beneficial
growth and innovation.