Tokyo [Japan], August 24 (ANI): The number of Japanese companies operating in India should double this decade from current levels, said Union Commerce and Industry Minister Piyush Goyal, as he called for a deeper business-to-business cooperation between the two countries.
Addressing a roundtable meeting with the Japan-India Business Consultative Committee (JIBCC) of the Japan Chamber of Commerce and Industry (JCCI) and the Embassy of India on Monday, Goyal said India and Japan have significant scope to expand their economic partnership.
Noting that India already hosts a large number of Japanese companies, Goyal said, “I believe that this decade should see that number double from the current levels.”
Goyal, who arrived in Japan for a four-day visit to strengthen bilateral economic ties, also highlighted that the two countries’ leaders have designated 2026 as the “India-Japan Year of Shared Horizons” to mark 75 years of diplomatic relations.
Stressing India believes in the principle of continuous improvement, Goyal said, “We are looking at Japan being our partner in this journey as we progress from a USD 4 trillion economy today to a USD 30 trillion economy by 2047, when we celebrate 100 years of independence. It’s an ambitious target, but 1.4 billion Indians are committed to making this happen.”
He added that there was “no better moment” to discuss the future of the India-Japan partnership and explore ways to deepen collaboration between businesses over the next decade.
The minister is leading a nearly 200-business delegation to bolster economic ties between the two nations. The visit will cover Tokyo, Nagoya and Osaka, with representatives from key sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups, as per Ministry of Commerce.
The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across the electronics, industrial and consumer sectors.
As per government data, Japan’s bilateral trade with India stood at USD 27.47 billion during FY 2025-26. During this period, exports from Japan to India stood at USD 21.43 billion, and imports came at USD 6.04 billion. (ANI)
Related reading
