Union Minister for Commerce Piyush Goyal highlights strategic and comprehensive nature of India-Japan relations

Union Minister of Commerce and Industry, Piyush Goyal, today held discussions in Tokyo with senior leaders of leading Japanese financial and investment institutions on strengthening long-term capital flows, deepening investment partnerships and expanding Japanese participation in India’s growth story. Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a USD 30 trillion economy by 2047. He underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth.

The Minister talked about significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure. He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology. Highlighting the strategic and comprehensive nature of India-Japan relations, Goyal said India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub. He emphasised India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment.

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