Union Minister of Commerce and Industry Piyush Goyal concluded his official visit to Japan on August 27, 2026, following high-level engagements in Tokyo, Nagoya, and Osaka aimed at accelerating Japanese investment in India and strengthening industrial partnerships. The visit focused on expanding bilateral economic cooperation across emerging and strategic sectors, with a particular emphasis on mobilizing long-term Japanese institutional capital for India's infrastructure, manufacturing, technology, and financial ecosystem.
A key objective was advancing the target of JPY 10 trillion in Japanese private investment in India over the next decade, which was agreed upon during Prime Minister Narendra Modi's 2025 visit to Japan. Goyal engaged with leading Japanese financial institutions including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan, and Morgan Stanley MUFG Securities to deepen capital flows into India.
The Minister chaired sector-specific roundtables on Capital Goods, Machinery and Automotive; Semiconductors and Artificial Intelligence; Startups; and Foreign Institutional Investors. These interactions brought together Japanese and Indian businesses to identify concrete investment, technology, and commercial partnerships, particularly involving India's Tier-II and Tier-III supplier ecosystem and MSMEs.
At the Semiconductor and AI Roundtable, Goyal highlighted India's ambition to build a globally competitive semiconductor ecosystem, with semiconductor demand projected to reach USD 150 billion by 2032. He outlined the government's six-pillar strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese companies expressed interest in expanding their presence in India across semiconductor materials and equipment, power semiconductors, electronics, artificial intelligence, logistics, and related advanced technologies, with discussions covering supporting infrastructure in emerging semiconductor clusters such as Dholera and Sanand.
Goyal held discussions with Japan's Minister of Economy, Trade and Industry Akazawa Ryosei, as well as senior representatives of JETRO, JBIC, and JICA, covering trade and investment, resilient supply chains, manufacturing cooperation, and technology. In his interaction with Keidanren (Japan Business Federation), representing more than 1,500 leading Japanese companies, Goyal underlined the widening scope of the India-Japan economic partnership encompassing traditional trade, economic security, resilient supply chains, advanced technology, clean energy, defence-related manufacturing, and people-to-people linkages.
The Minister addressed the "India-Japan Next Generation Economic Partnership" roadshow in Nagoya, where more than 80 Japanese companies from the Chubu region participated, with discussions covering automobiles, aerospace, machine tools, semiconductors, electronics, auto components, and SMEs. Goyal emphasized that India recorded 7.7% growth despite global headwinds and is progressing toward becoming a USD 30 trillion economy by 2047, citing India's large middle class, expanding digital economy, robust banking sector, renewable energy capacity, and improving business environment as creating significant opportunities for long-term investors.