Indian Union Commerce and Industry Minister Piyush Goyal called for a doubling of Japanese companies operating in India this decade.
The push for increased investment aims to solidify the strategic trade partnership between India and Japan, reducing reliance on single-market supply chains.
Speaking in Tokyo on Monday, Goyal said that the number of Japanese firms in India should double from current levels [1]. He said that the growth of these ties is essential for the future of the partnership between the two nations.
"We need deeper business-to-business cooperation between India and Japan," Goyal said [2].
The minister's visit focuses on boosting mutual investment and trade. By increasing the footprint of Japanese industry in India, the government seeks to integrate more advanced technology and manufacturing processes into the local economy.
"The number of Japanese companies operating in India should double this decade from current levels," Goyal said [1].
The call for expansion comes as both nations seek to align their economic goals. Goyal said the importance of direct corporate engagement to drive this growth, rather than relying solely on government-to-government agreements. This approach is designed to create more sustainable economic links through private sector investment.
“The number of Japanese companies operating in India should double this decade from current levels.”
This initiative reflects India's broader strategy to attract high-tech foreign direct investment to bolster its domestic manufacturing capabilities. By targeting a 100% increase in Japanese corporate presence, India aims to leverage Japan's precision engineering and capital to compete more effectively in global markets.
