Piyush Goyal Invites Japanese Businesses to Deepen Investment and Partnerships in India.
New Delhi:
Union Commerce and Industry Minister Piyush Goyal has invited Japanese companies to deepen their investments and strategic partnerships in India, highlighting the country’s growing market, young workforce and expanding manufacturing and technology ecosystem.
Goyal was addressing a dinner hosted by the Government of Uttar Pradesh for a Japanese delegation in New Delhi, in the presence of Uttar Pradesh Chief Minister Yogi Adityanath. The delegation from Yamanashi Prefecture underscored the growing engagement between Japan and Indian states and regions.
Goyal said India and Japan share a close and enduring partnership based on common aspirations for peace, progress and prosperity in the Indo-Pacific. He said the relationship has expanded beyond traditional economic cooperation and now encompasses a broad range of strategic and emerging sectors.
He highlighted seven key areas of India’s national transformation—manufacturing, agriculture, technology, infrastructure, energy and defence, green and blue economy, and civilisational soft power—as areas where Indian and Japanese strengths can complement each other.
Uttar Pradesh emerging as key destination for Japanese investment
Highlighting Uttar Pradesh’s economic potential, Goyal said the state is pursuing its ambition of becoming a USD 1 trillion economy. Its large and aspirational population, improving connectivity, industrial growth and skilled workforce, he said, offer Japanese companies a strong platform to combine advanced technology and expertise with India’s young workforce and expanding domestic market.
He noted that Uttar Pradesh is India’s third-largest state economy, has more than 9 million MSMEs and ranks as the country’s fifth-largest state exporter.
Goyal cited companies such as Escorts Kubota and Seiko Advance as examples of Japanese-linked businesses contributing to Uttar Pradesh’s manufacturing ecosystem.
He also highlighted the Jewar International Airport, Yamuna Expressway and the JICA-supported Western Dedicated Freight Corridor, along with 27 industrial clusters and ecosystems covering sectors such as defence, semiconductors and electronics.
According to Goyal, these developments position Uttar Pradesh as an increasingly attractive destination for Japanese investment and industrial partnerships.
Japan targets major investments in India
Referring to the 16th India-Japan Annual Summit held in New Delhi in July 2026, Goyal highlighted Japan’s target of investing 10 trillion yen in India over the next decade.
He said emerging sectors including artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility would be central to the future expansion of economic cooperation between the two countries.
Goyal said the growing partnership is already visible through major infrastructure and industrial projects. These include the Mumbai-Ahmedabad High-Speed Rail project, Japanese-assisted metro systems in Delhi, Ahmedabad, Bengaluru and Chennai, and 11 Japanese industrial townships across eight states.
More than 1,400 Japanese companies are currently operating in India, he said, with major names such as Suzuki, Toyota and Honda in the mobility sector, Sony in electronics, and Hitachi and Mitsubishi in engineering.
Bilateral trade reaches USD 27.5 billion
Goyal said India-Japan bilateral trade reached approximately USD 27.5 billion in financial year 2025-26, while Japan has become India’s fifth-largest source of foreign direct investment (FDI).
He described these figures as evidence of the strong foundation already established between the two economies and said there remains considerable scope for further expansion of trade, investment and technology partnerships.
Drawing on the Japanese philosophy of Kaizen, which emphasises continuous improvement, Goyal said India’s reform journey reflects a similar approach.
He highlighted improvements in the ease of doing business, infrastructure, digital public infrastructure, multimodal logistics and Japanese-language capabilities, saying these measures are aimed at creating a more supportive environment for international investors.
India-Japan partnership to expand across the Indo-Pacific
Goyal said he would visit Japan from August 24 to 27, 2026, to take forward discussions with government and industry leaders and further strengthen the Special Strategic and Global Partnership between India and Japan.
Emphasising the long-standing civilisational links between the two countries, Goyal recalled their historical connection through the teachings of Buddha.
He called on Japanese businesses to make India, and Uttar Pradesh in particular, a centre for their future growth and a hub for Japanese innovation serving the wider Indo-Pacific region and the global economy.
The minister said the expanding India-Japan relationship represents not only an opportunity for economic growth but also a broader partnership built around technology, innovation, infrastructure, skilled human resources and shared ambitions for global progress.
