New Delhi: Commerce and Industry Minister Piyush Goyal’s Japan visit has reaffirmed the strong momentum in Special Strategic and Global Partnership and provided fresh impetus to efforts to deepen trade, investment, technology and industrial cooperation, the government said on Thursday.
The visit also strengthened the foundation for greater Japanese participation in India’s transformation into a globally competitive manufacturing, technology and investment hub, while opening new avenues for mutually beneficial growth and innovation.
Goyal concluded his official visit to Japan, following a series of high-level engagements in Tokyo, Nagoya and Osaka aimed at accelerating Japanese investment in India, strengthening industrial partnerships and expanding bilateral economic cooperation across emerging and strategic sectors.
The minister held extensive discussions with senior Japanese government leaders, financial institutions and business executives, including the leadership of more than 30 major Japanese companies and financial institutions with significant or growing interests in India.
The engagements focused on expanding investment, strengthening resilient supply chains, advancing technology partnerships and creating new avenues for business-to-business collaboration between the two countries, according to an official statement.
A key focus of the visit was mobilising long-term Japanese institutional capital for India.
Goyal engaged with leading Japanese financial institutions, including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley MUFG Securities, besides other major investment and financial institutions.
The discussions explored opportunities to deepen capital flows into India and support the country’s expanding infrastructure, manufacturing, technology and financial ecosystem.
The Minister also chaired sector-specific roundtables. The interactions brought together a wide cross-section of Japanese and Indian businesses and provided a platform for identifying concrete investment, technology and commercial partnerships, particularly involving India’s Tier-II and Tier-III supplier ecosystem and MSMEs.
Goyal highlighted India’s ambition to build a globally competitive semiconductor ecosystem, with semiconductor demand projected to reach $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.
Goyal held discussions with Japan’s Minister of Economy, Trade and Industry, Akazawa Ryosei, as well as senior representatives of JETRO, JBIC and JICA.
The discussions covered trade and investment, resilient supply chains, manufacturing cooperation, technology, infrastructure and greater participation of Japanese companies in India’s growth story.
Goyal also addressed the “India-Japan Next Generation Economic Partnership” roadshow in Nagoya, organised in collaboration with Chukeiren and other leading business organisations. More than 80 Japanese companies from the Chubu region participated in the roadshow, with discussions covering automobiles, aerospace, machine tools, semiconductors, electronics, auto components and SMEs.
(IANS)
