Commerce Minister Piyush Goyal leads 200-member business delegation to Japan, to push trade, investment

Tokyo: Commerce and industry minister Piyush Goyal is leading a 200-member business delegation to Japan for a four-day visit starting August 24, which is expected to give fresh momentum to bilateral trade and investment ties, and open new avenues of cooperation in high-technology manufacturing and next-generation industries, the government said Sunday. The minister will be travelling to Tokyo, Nagoya and Osaka.

The business delegation has representatives from various sectors, ranging from manufacturing, semiconductors, clean energy and steel to automotive, financial services, healthcare and start-ups, added Jyoti Vij, Director General, Ficci.

Japan has set an investment target of 10 trillion yen (about Rs 60,000 crore) in India over a decade. It is today India’s fifth-largest source of foreign direct investment (FDI), with over 1,400 Japanese companies that are household names, from Suzuki, Toyota and Honda in mobility, Sony in electronics, and Hitachi and Mitsubishi in engineering.


“In Tokyo, Goyal will hold a series of meetings with the top leadership of major Japanese conglomerates and industrial houses that have long been partners in India's growth, alongside a round-table with Keidanren (Japan Business Federation), representing over 1,500 leading Japanese companies,” the commerce and industry ministry said in a statement

Dedicated sessions are planned on semiconductors and artificial intelligence, start-ups, and engagement with foreign institutional investors, reflecting India's growing pull as an investment and innovation destination.

The minister will also hold bilateral talks with his counterpart, Akazawa Ryosei, Minister of Economy, Trade and Industry, and call on senior members of the Japanese government and Parliament, besides interacting with the Indian community in Japan.

In Nagoya, the industrial heartland of Central Japan, Goyal will lead a roadshow with Chukeiren (Central Japan Economic Federation) and the Nagoya Chamber of Commerce and Industry, and engage with the Aichi Prefecture leadership and major manufacturing investors in the automotive and steel sectors.

The visit will conclude in Osaka with an investors and business roadshow, along with meetings with leading Japanese companies across electronics, industrial and consumer sectors, aimed at showcasing opportunities across India's manufacturing, clean energy and consumer markets, according to the statement.

Vij said that discussions with Japan External Trade Organization (JETRO), Japanese business organisations and investors will focus on opportunities for Japanese companies in India and ways to facilitate greater two-way investment.

“Engagements with organisations and companies working in digital innovation, industrial transformation, advanced manufacturing, AI, semiconductors and electronics are there,” she said, adding that deliberations will include increasing cooperation in capital goods, machinery, automotive and advanced manufacturing.

The delegation will highlight India's growing opportunities in manufacturing, technology, electronics, automotive, start-ups and other high-growth sectors, while encouraging Japanese companies to expand their presence and investments in India