Tokyo [Japan], August 27 (ANI): Union Commerce and Industry Minister Piyush Goyal on Thursday concluded his four-day visit to Japan, saying the trip generated strong interest among Japanese businesses and also produced early investment outcomes, including a potential robotics manufacturing investment in India.
Speaking to ANI as his visit concluded, Goyal said there was "very good excitement in Japan" and highlighted the participation of more than 200 people from India and the global industry in the visit.
"I saw very good excitement in Japan. I have had many good meetings. More than 200 people from India, from the world of industry, came with me. They also have many business-to-business connections," Goyal said.
The Minister said the visit was not limited to discussions, with business-to-business engagements already beginning to translate into investment opportunities.
He gave the example of the robotics sector, saying that a company he had spoken to in Tokyo on Monday had, by Thursday, identified an Indian company for investment and manufacturing robots in India.
"I was talking to a company in robotics on Monday in Tokyo, and today in Osaka, they have identified a company in India to invest in and make robots in India," Goyal said.
"So, the results are also coming along with it, and a lot of potential has been seen," he added.
Goyal said the broader possibilities emerging from India-Japan economic engagement were significant.
"The possibilities are limitless. We have to give shape to the industrial world of India," he said.
The Minister had travelled to Japan from August 24 to August 27, leading a nearly 200-member business delegation as India sought to strengthen trade and investment ties with Japan.
During the visit, Goyal held meetings with senior executives of Japanese companies and industry representatives across sectors including semiconductors, electronics, aluminium, paints and coatings and sports manufacturing.
India also sought to deepen Japanese investment in emerging areas such as semiconductors, artificial intelligence, data centres, renewable energy and advanced manufacturing.
A key focus of the visit was increasing the presence of Japanese companies in India. Goyal said around 1,500 Japanese companies are currently operating in India and Prime Minister Narendra Modi has set a target of doubling this number to 3,000.
"The goal is to attract investment across various sectors, such as financial services, insurance, and pension funds, and to leverage Japanese technology and investment on a large scale," Goyal had said during the visit.
The Minister also highlighted the importance of increasing business-to-business cooperation between the two countries. Earlier, he had said he believed the number of Japanese companies operating in India should double during this decade.
Japan's interest in India also extends to manufacturing for global markets. During the visit, Japanese companies discussed opportunities across manufacturing and other emerging sectors, while Goyal pushed for greater investment and technology partnerships.
The visit also saw discussions around the review of the India-Japan Comprehensive Economic Partnership Agreement (CEPA). Goyal said the two countries had just begun talks on the review and that both sides would take care of their respective sensitive issues as negotiations progress.
"Of course, whenever there is a review, every country takes care of its sensitive issues. In the same way, the talks with Japan have just begun, and when the talks go ahead, we will take care of the sensitive issues on both sides," he said.
Goyal also said India was willing to address regulatory concerns raised by companies looking to establish manufacturing operations in the country. During the visit, he said the government would amend existing regulations and introduce new rules over the next two months to address concerns raised by companies.
On the trade front, India-Japan bilateral trade stood at USD 27.47 billion in FY 2025-26, with exports from Japan to India at USD 21.43 billion and India's imports to Japan at USD 6.04 billion. Industry bodies and government officials have targeted taking bilateral trade to USD 50 billion by 2030.
The visit comes as India and Japan seek to build on their economic relationship, with 2026 designated as the "India-Japan Year of Shared Horizons" to mark 75 years of diplomatic relations.
The Minister said the strong response from Japanese businesses and the early movement in areas such as robotics showed the potential for the relationship to move beyond traditional trade towards investment, technology and manufacturing partnerships. (ANI)
Piyush Goyal concludes Japan visit, says strong interest by Japanese businesses for India, robotics investment deal takes shape
