New Delhi, Aug 19: Commerce and Industry Minister Piyush Goyal will visit Japan from August 24 to 27 to further strengthen economic and strategic ties between the two countries, as bilateral trade has reached around $27.5 billion in FY 2025-26.
Pic Credit: https://x.com/PiyushGoyal
Goyal made the announcement while addressing a dinner hosted by the Uttar Pradesh government for a Japanese delegation from Yamanashi Prefecture in New Delhi.
Highlighting the growing importance of the India-Japan partnership, Goyal invited Japanese companies to expand their investments and business partnerships in India. He said the two countries share a strong relationship built around common goals of peace, economic growth and prosperity in the Indo-Pacific.
Goyal said the growing engagement between Japan and Indian states is an important part of the bilateral relationship, with Uttar Pradesh offering significant opportunities for Japanese companies because of its large market, improving infrastructure, skilled workforce and expanding industrial base.
He pointed to several areas where Indian and Japanese strengths can complement each other, including manufacturing, agriculture, technology, infrastructure, energy, defence, the green and blue economy and innovation.
Referring to the India-Japan Annual Summit held in New Delhi in July, Goyal said Japan’s plan to invest 10 trillion yen in India over the next decade reflects the growing confidence in the Indian economy. He identified artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility as important areas for future cooperation.
The minister said the partnership is already visible through major projects such as the Mumbai-Ahmedabad High-Speed Rail corridor and Japanese-supported metro projects in Delhi, Ahmedabad, Bengaluru and Chennai. India also has 11 Japanese industrial townships spread across eight states.
More than 1,400 Japanese companies are currently operating in India, including major names such as Suzuki, Toyota, Honda, Sony, Hitachi and Mitsubishi. Japan has also emerged as India’s fifth-largest source of foreign direct investment.
Goyal highlighted Uttar Pradesh’s economic potential, noting that the state has more than nine million MSMEs and is the country’s fifth-largest state exporter. He said projects such as Jewar International Airport, the Yamuna Expressway and the JICA-supported Western Dedicated Freight Corridor are strengthening the state’s connectivity and industrial infrastructure.
The minister also highlighted the state’s industrial clusters and emerging ecosystems in areas such as defence, semiconductors and electronics as potential avenues for greater Japanese participation.
Drawing on the Japanese concept of ‘Kaizen’, Goyal said India’s reform process also reflects a focus on continuous improvement. He pointed to improvements in infrastructure, ease of doing business, digital public infrastructure, logistics and Japanese-language capabilities as part of efforts to make India a more attractive destination for global investors.
During his Japan visit, Goyal is expected to engage with government and industry leaders to take forward discussions on investment, trade and economic cooperation.
Goyal said India and Japan’s relationship extends beyond business and trade, with deep historical and cultural links. He urged Japanese companies to view India, particularly Uttar Pradesh, as a long-term growth partner and a base for innovation and expansion across the Indo-Pacific.