Commerce and Industry Minister Piyush Goyal has arrived in Japan at the head of a 200-member business delegation, as India seeks to give fresh momentum to trade and investment ties with one of its key economic partners.
Goyal’s four-day visit, from August 24 to 27, 2026, comes at a significant moment for India–Japan economic relations. Japan has set a target of investing 10 trillion yen around ₹60,000 crore in India over the next decade.
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A 200-Member Business Delegation
Goyal is travelling with one of India’s largest business delegations to Japan, representing sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.
The delegation will travel to Tokyo, Nagoya and Osaka, with meetings planned with Japanese government officials, business organisations and major companies.
The objective is to identify new investment opportunities while encouraging Japanese companies to expand their manufacturing and technology presence in India.
1. Japanese Investment in India
A major focus will be on turning Japan’s 10 trillion yen investment ambition into concrete projects across India.
Goyal is expected to engage with senior executives from major Japanese conglomerates and participate in a round-table with Keidanren, Japan’s leading business federation representing more than 1,500 companies.
Dedicated discussions will focus on semiconductors, artificial intelligence and digital innovation.
These sectors are increasingly important to India’s strategy of building domestic technology and advanced manufacturing capabilities, while Japanese companies bring expertise in precision manufacturing, electronics and industrial technology.
3. Advanced Manufacturing and Automotive
In Nagoya, one of Japan’s major manufacturing centres, Goyal will engage with automotive and steel companies, as well as business organisations and the Aichi Prefecture leadership.
The discussions are expected to cover automobiles, capital goods, machinery and advanced manufacturing.
4. Clean Energy and Next-Generation Industries
Clean energy and other emerging technologies are also high on the agenda.
Japan’s planned investment push is expected to cover areas including batteries, energy, critical minerals and next-generation mobility, alongside AI and semiconductors.
5. India–Japan Trade and CEPA Review
The visit also comes as India and Japan review their Comprehensive Economic Partnership Agreement (CEPA).
Bilateral trade reached approximately $27.47 billion in FY2025–26, but India’s trade deficit with Japan increased to around $15.4 billion. The CEPA review is therefore an important part of efforts to create a more balanced and sustainable trade relationship.
Japan Already a Major Investor in India
Japan is currently India’s fifth-largest source of foreign direct investment, with cumulative FDI of approximately $48.14 billion between April 2000 and March 2026. More than 1,400 Japanese companies are operating in India.
Japanese involvement can already be seen in major projects including the Mumbai–Ahmedabad High-Speed Rail, Japanese-assisted metro systems and industrial townships across India.
The visit will conclude in Osaka, where Goyal will participate in an investors and business roadshow.
Meetings with Japanese companies from the electronics, industrial and consumer sectors will focus on opportunities in Indian manufacturing, clean energy and consumer markets.
1. ₹60,000 Crore Investment Opportunity
Japan’s 10 trillion yen investment target could significantly expand Japanese industrial activity in India.
2. Technology Transfer
Cooperation in AI, semiconductors, electronics and advanced manufacturing could accelerate India’s technology capabilities.
3. Manufacturing Growth
Japanese investment can strengthen India’s automotive, machinery, electronics and industrial supply chains.
4. More Jobs and Business Opportunities
New Japanese projects could create employment while opening opportunities for Indian suppliers and MSMEs.
5. Stronger India–Japan Economic Partnership
The visit adds an economic dimension to the already deepening strategic relationship between the two countries.
Piyush Goyal’s Japan visit comes at a crucial time for India–Japan economic cooperation.
With a 200-member business delegation, meetings across Tokyo, Nagoya and Osaka, and a Japanese investment target of 10 trillion yen (around ₹60,000 crore) over the next decade, India is looking to convert strong diplomatic ties into greater investment, technology collaboration and industrial growth.
The discussions could help shape the next phase of the India–Japan partnership, one increasingly driven by manufacturing, semiconductors, AI, clean energy, automobiles and next-generation technologies.
