Piyush Goyal addresses Japanese Business Federation in Tokyo

India-Japan partnership has expanded well beyond traditional trade to encompass strategic areas such as economic security, defence, supply-chain resilience, technology, innovation, clean energy and people-to-people exchanges stated Union Minister for Commerce and Industry, Shri Piyush Goyal, while addressing a round-table with Keidanren (Japan Business Federation), the apex economic organisation representing more than 1,500 leading Japanese companies.

Shri Goyal called for a deeper business-to-business partnership between the two countries and highlighted the improving ease of doing business in India and the opportunities emerging from the country’s rapidly expanding economy. The Minister invited Japanese investors to scale up their commitment to India and double the number of Japanese companies operating in the country, stating that the number of Japanese companies operating in India “should double this decade from current levels.” He also noted that India and Japan have designated 2026 as the “India-Japan Year of Shared Horizons,” marking 75 years of diplomatic relations between the two nations.

Shri Goyal held business meetings with the leadership of Sumitomo Corporation, Meiji Seika Pharma, Mitsubishi Corporation, Tokyo Electron and MinebeaMitsumi. Discussions focused on opportunities for further expansion of their operations and enhancement of investments in India.

During the meetings, Shri Goyal met Mr. Shingo Ueno, Representative Director, President & CEO, Sumitomo Corporation; Mr. Toshiaki Nagasato, President & Representative Director, Meiji Seika Pharma Co. Ltd.; and Mr. Juro Baba, Representative Director, Executive Vice President, Corporate Functional Officer for Global Planning & Coordination, Mitsubishi Corporation.

The Minister also met with two companies at the forefront of semiconductor manufacturing. At Tokyo Electron, he met Mr. Takeshi Okubo, Chair of Tokyo Electron India; Mr. Vaidya Bharadwaj, India Project Leader; Mr. Takuo Kawauchi, General Manager; Ms. Saori Tsuchiya, Director; and Ms. Yukiko Otaka. At MinebeaMitsumi Inc., he met Mr. Katsuhiko Yoshida, Director, President, COO & CFO, who is overseeing the company’s semiconductor plant project in India. These meetings reflect the growing focus on semiconductor investment as a pillar of the bilateral relationship.

In the afternoon, Shri Goyal held a meeting with Mr. Ichikawa Keiichi, Secretary General of Japan’s National Security Secretariat, Cabinet Office, at the Kantei (Deputy Prime Minister’s Office), underlining the strategic dimension of the bilateral relationship alongside its economic dimension.