Piyush Woos Japanese Semiconductor Companies, Holds Out Market Access Promise

Ø Piyush Goyal Holds Bilateral Meeting with Japan’s Minister of Economy, Trade and Industry; Both Ministers Agree to Accelerate Review of CEPA

· Commerce and Industry Minister Piyush Goyal chaired an India–Japan industry roundtable in Tokyo on 25 August 2026, focusing on semiconductors and Artificial Intelligence (AI).

· Semiconductors and AI were identified as key pillars of the India–Japan economic security partnership, with India seeking greater Japanese investment, technology and manufacturing collaboration.

· India’s semiconductor demand is projected to reach USD 150 billion by 2032.

· Goyal highlighted the USD 10 billion Semicon India 1.0 commitment and an additional USD 15 billion under Semicon India 2.0 to develop the semiconductor ecosystem covering chip design, fabrication, ATMP/OSAT, equipment, materials, R&D and talent.

· Around 21 leading Japanese companies participated, including Tokyo Electron, Fujifilm, Toray Industries, Kyocera, ROHM, NEC, MUFG, Mizuho and JETRO.

· Japanese companies expressed confidence in India’s semiconductor and AI opportunities and reaffirmed support for “Make in India, Design in India and Develop in India.”

· Goyal assured Japanese industry that the Indian Government would fast-track resolution of industry concerns through the Embassy of India in Tokyo and relevant ministries.

· Goyal also held a bilateral meeting with Japan’s Economy, Trade and Industry Minister Akazawa Ryosei.

· Both Ministers reviewed bilateral trade and investment and agreed to accelerate the review of the India–Japan CEPA, making it more forward-looking and aligned with emerging economic opportunities.

· They also discussed cooperation in next-generation industries, manufacturing, technology and innovation, while noting progress towards the target of JPY 10 trillion in Japanese private investment in India.

[ABS News Service/26.08.2026]

Union Minister of Commerce and Industry, Piyush Goyal, on 25^th August chaired a roundtable with leading Japanese and Indian industry representatives on Semiconductors and Artificial Intelligence (AI) in Tokyo, underlining the growing importance of these sunrise sectors in strengthening India-Japan economic and technological cooperation.

Mr. Goyal highlighted that Semiconductors and AI are emerging as key areas of cooperation and constitute an important pillar of the economic security partnership envisaged by Prime Minister Narendra Modi and Prime Minister Sanae Takaichi during the Annual Summit. He assured the participating industry representatives of the Government of India’s wholehearted support in deepening and expanding collaboration between India and Japan in these strategic sectors.

The Minister highlighted the rapidly expanding opportunities in India’s semiconductor sector, with domestic semiconductor demand projected to reach USD 150 billion by 2032. He outlined the Government’s comprehensive semiconductor strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. He also highlighted the Government’s commitment of USD 10 billion under Semicon India 1.0 and an additional USD 15 billion under Semicon India 2.0 to catalyse large-scale investments and build a comprehensive semiconductor ecosystem in the country.

Mr. Goyal emphasised the significant potential for combining India’s vast pool of skilled and talented professionals with Japan’s advanced technology, engineering capabilities and industrial expertise. He noted that such complementarities can create new opportunities for investment, innovation, manufacturing and technology partnerships between the two countries.

The roundtable was attended by representatives of around 21 leading Japanese companies, including Tokyo Electron, Daifuku, Preferred Networks, ABEJA, MinebeaMitsumi, Tanaka Precious Metals Technologies, Fujifilm Holdings, Toray Industries, Nippon Express Holdings, Mizuho Financial Group, Kyocera Corporation, Fuji Electric, TOK, Air Water Inc., ROHM, Tomoegawa Corporation, MUFG Bank Ltd., NEC Corporation, Yamaya Electronics, ANA Trading and JETRO. The roundtable also saw participation from various Indian business chambers and business delegations.

The participating Japanese companies expressed confidence in the growing opportunities in India’s semiconductor and AI sectors and reaffirmed their commitment to Make in India, Design in India and Develop in India. The companies also briefed the Minister on their operations, capabilities and project execution in the relevant sectors.

Responding to suggestions and concerns raised by Japanese industry representatives, Mr. Goyal assured that the Government of India would proactively address the issues raised. He emphasised that India is fully cognisant of the significant potential of the India-Japan partnership in these strategic sectors and will proactively engage with industry through the Embassy of India in Tokyo and the concerned Ministries and Departments in New Delhi to facilitate fruitful outcomes in a fast-tracked manner.

Earlier, Mr. Goyal held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, on 25 August 2026 in Tokyo.

During the meeting, the two Ministers took stock of bilateral economic cooperation, including bilateral trade and investment, and discussed the need to accelerate the review of the Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and responsive to emerging economic opportunities.

The Ministers also discussed bilateral cooperation in new and emerging sectors, next-generation industries, manufacturing, technology and innovation. They noted the steady progress towards achieving the target of JPY 10 trillion in private investment from Japan to India, further strengthening the India-Japan Special Strategic and Global Partnership.