Union Minister of Commerce & Industry Shri Piyush Goyal invited Japanese businesses to deepen investments and partnerships in India during a dinner hosted by the Government of Uttar Pradesh for a Japanese delegation. The event was attended by Uttar Pradesh Chief Minister Shri Yogi Adityanath in New Delhi on August 18, 2026.
Goyal highlighted the growing strategic importance of the India-Japan partnership, noting that bilateral trade reached approximately USD 27.5 billion in FY 2025-26, with Japan now established as India's fifth-largest source of foreign direct investment. He referenced Japan's target of investing 10 trillion yen in India over the next decade, with specific focus on artificial intelligence, semiconductors, critical minerals, batteries, energy, and next-generation mobility.
The Minister emphasized Uttar Pradesh's economic potential, noting the state's ambition to become a USD 1 trillion economy under Chief Minister Adityanath's leadership. He highlighted UP's large aspirational population, improving connectivity, industrial momentum, and skilled workforce as complementary assets for Japanese technology and expertise. The state hosts more than 9 million MSMEs and ranks as India's fifth-largest state exporter.
Goyal cited several existing successful collaborations including 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 currently operate in India, including major names such as Suzuki, Toyota, Honda, Sony, Hitachi, and Mitsubishi.
Specific infrastructure projects in Uttar Pradesh were highlighted as key strengths, including the Jewar International Airport, Yamuna Expressway, and the JICA-supported Western Dedicated Freight Corridor. The state also features 27 industrial clusters and ecosystems in sectors including defence, semiconductors, and electronics. Existing Japanese enterprises in UP include Escorts Kubota and Seiko Advance.
Goyal announced his upcoming visit to Japan from 24 to 27 August 2026 to further strengthen the Special Strategic and Global Partnership between the two countries at the highest levels of government and industry. He emphasized the civilizational ties between India and Japan through the teachings of Buddha and invited Japanese businesses to make India, particularly Uttar Pradesh, a center of their growth and innovation hub for the Indo-Pacific region.