India-Japan Trade Relations: Aiming for Strategic Growth with 10 Trillion Yen Investment

Union Minister Piyush Goyal emphasized the potential to exponentially increase trade and investment between India and Japan, targeting a 10 trillion yen Japanese investment by 2036. The UP-Japan Investment Meet aims to enhance collaboration in sectors like AI, semiconductors, and next-generation mobility, elevating the India-Japan partnership to new heights.

Union Commerce and Industry Minister Piyush Goyal announced on Tuesday that the bilateral trade between India and Japan is valued at USD 27.5 billion for the fiscal year 2025-26, despite recognizing this as only a fraction of the potential between the two nations. He addressed a Japanese delegation during the UP-Japan Investment Meet 2026, emphasizing the strategic goal of securing a 10 trillion yen Japanese investment in India over the next decade.

In his speech, Goyal highlighted the admired cultural and industrial bonds that tie India and Japan, mentioning their shared values and commitments within the Indo-Pacific region. Pointing to existing and successful collaborations, he noted infrastructural projects such as the Mumbai-Ahmedabad High-Speed Rail and Tokyo-backed metro systems across major Indian cities.

Goyal further outlined future areas of collaboration, particularly in emerging technologies and industries, underscoring the warmth and trust at the core of the India-Japan relationship. He invited Japan to explore investment opportunities in Uttar Pradesh, citing it as a promising hub for Japanese prowess in technology and India’s dynamic workforce and market potential.