Piyush Goyal urges Japanese firms to double presence in India by 2030

India and Japan are looking to deepen business-to-business ties across manufacturing, semiconductors, clean energy, technology and resilient supply chains, with commerce and industry minister Piyush Goyal calling on Japanese companies to double their presence in India by 2030.

Addressing a roundtable with Keidanren, Japan’s apex business federation representing more than 1,500 leading companies, Goyal said the India-Japan partnership had expanded beyond traditional trade to areas including economic security, defence, supply-chain resilience, technology, innovation, clean energy and people-to-people exchanges.

Goyal invited Japanese investors to increase their commitment to India, highlighting the improving ease of doing business in India and opportunities arising from the country’s expanding economy.

The minister’s visit comes as India and Japan mark 2026 as the ‘India-Japan Year of Shared Horizons’, commemorating 75 years of diplomatic relations between the two countries.

Goyal also held meetings with senior executives from Sumitomo Corporation, Meiji Seika Pharma, Mitsubishi Corporation, Tokyo Electron and MinebeaMitsumi to discuss expansion of their operations and further investment in India.

Semiconductors and strategic ties

Semiconductor investment emerged as a key area of engagement. Goyal met executives of Tokyo Electron and MinebeaMitsumi, including Katsuhiko Yoshida, director, president, chief operating officer and chief financial officer of MinebeaMitsumi, who is overseeing the company’s semiconductor plant project in India. The meetings underscore the growing importance of semiconductor manufacturing in the India-Japan economic partnership.

The minister also met Ichikawa Keiichi, secretary general of Japan’s National Security Secretariat, at the Kantei, underscoring the strategic dimension of the bilateral relationship alongside economic cooperation.

Separately, Goyal participated in a roundtable focused on the capital goods, machinery and automotive sectors, with around 70 businesses from India and Japan. The discussions focused on strengthening linkages between Japanese companies and India’s tier-II and tier-III supplier ecosystem and identifying opportunities for industrial collaboration, technology partnerships and greater participation by micro, small and medium enterprises.

Manufacturing and supply chains

Goyal highlighted the scope for greater Japanese participation in India’s capital goods, machinery, automotive and advanced manufacturing sectors, while also calling for deeper integration with India’s manufacturing ecosystem to build stronger and more resilient supply chains.

The minister later participated in a fireside chat moderated by Nikkei Asia, where he highlighted the expanding India-Japan economic relationship and opportunities arising from India’s economic growth, technological transformation and integration with global value chains.

Goyal arrived in Tokyo on Monday to lead India’s largest-ever business delegation to Japan, comprising more than 200 representatives from sectors including manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare and start-ups.

The four-day visit, from 24 to 27 August, will cover Tokyo, Nagoya and Osaka and is aimed at strengthening trade and investment ties under the India-Japan Special Strategic and Global Partnership.

The delegation has been constituted jointly by India’s leading industry associations in coordination with the commerce ministry, with representatives nominated by the Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry and Associated Chambers of Commerce and Industry of India.