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Published - August 23, 2026 09:30 pm IST - TOKYO

Union Commerce & Industry Minister Piyush Goyal. | Photo Credit:

Commerce and Industry Minister Piyush Goyal is leading a 200-member business delegation to Japan on a four-day visit starting August 24 to boost trade and investment ties between the two countries.

The visit assumes significance since Japan set an investment target last year of 10 trillion yen in (about ₹60,000 crore) India over a decade.

The Minister will travel to Tokyo, Nagoya, and Osaka.

The business delegation has representatives from various sectors, ranging from manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare to start-ups, industry chamber Ficci Director General Jyoti Vij told reporters in Tokyo.

In Tokyo, Mr. Goyal will hold a series of meetings with the top leadership of major Japanese conglomerates and industrial houses that have long been partners in India's growth, alongside a round-table with the Keidanren (Japan Business Federation), representing over 1,500 leading Japanese companies.

Dedicated sessions are planned on semiconductors, artificial intelligence, start-ups, and engagement with foreign institutional investors, reflecting India's growing pull as an investment and innovation destination.

The Minister will also hold bilateral talks with his counterpart, Akazawa Ryosei, Minister of Economy, Trade and Industry, and call on senior members of the Japanese Government and Parliament, besides interacting with the Indian community in Japan.

Similarly in Nagoya, the industrial heartland of Central Japan, the Minister will lead a roadshow with Chukeiren (Central Japan Economic Federation), and the Nagoya Chamber of Commerce and Industry, and engage with the Aichi Prefecture leadership and major manufacturing investors in the automotive and steel sectors.

The visit will conclude in Osaka with an investors and business roadshow, along with meetings with leading Japanese companies across electronics, industrial, and consumer sectors, aimed at showcasing opportunities across India's manufacturing, clean energy and consumer markets.

The visit is expected to give fresh momentum to bilateral trade and investment ties, and open new avenues of cooperation in high-technology manufacturing and next-generation industries, the Commerce Ministry said in a statement.

Ms. Vij said discussions with Japan External Trade Organization (JETRO), Japanese business organisations and investors will focus on opportunities for Japanese companies in India and ways to facilitate greater two-way investment.

"The programme includes engagements with organisations and companies working in digital innovation, industrial transformation, advanced manufacturing, AI, semiconductors and electronics," she said, adding that deliberations will include increasing cooperation in capital goods, machinery, automotive and advanced manufacturing.

The delegation will highlight India's growing opportunities in manufacturing, technology, electronics, automotive, start-ups and other high-growth sectors, while encouraging Japanese companies to expand their presence and investments in India.

The two countries are looking at reviewing the Comprehensive Economic Partnership Agreement (CEPA), which came into effect on August 1, 2011. The seventh Joint Committee Meeting under the India-Japan CEPA was held on March 2 this year in Tokyo.

India has emphasised the need for a more balanced bilateral trade relationship to ensure long-term sustainability. The country has called for the review of the pact as the trade deficit is increasing.

The review assumes significance as domestic steel producers have complained of a surge in imports of steel products like hot-rolled steel and other variants from Japan.

On the other hand, Japanese firms have earlier flagged issues with regard to Indian quality control orders.

Japan is the fifth largest investor in India. India received $48.14 billion in FDI between April 2000 and March 2026. Japan accounted for 6% of total FDI attracted by India during the period.

The two-way commerce between the countries grew 9.18 per cent to $27.47 billion (exports of $6.03 billion and imports of $21.43 billion) in 2025-26 from $25.16 billion in 2024-25.

The trade deficit between the countries increased to $15.4 billion in the last fiscal year from $12.66 billion in 2024-25.

Published - August 23, 2026 09:30 pm IST

India / Japan / India-Japan / diplomacy / trade agreements / investments / economy, business and finance

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