Piyush Goyal to visit Japan as India-Japan trade touches $27.5 billion

The government has said that India and Japan share a close and enduring partnership rooted in common aspirations for peace, progress and prosperity in the Indo-Pacific. Commerce Minister Piyush Goyal invited Japanese businesses to deepen their investments and partnerships in India, as he addressed an event hosted by the Uttar Pradesh government for a Japanese delegation, in the presence of Chief Minister Yogi Adityanath, here.

Goyal said he would visit Japan from August 24-27 to take forward these conversations at the highest levels of government and industry and further strengthen the Special Strategic and Global Partnership between both the nations. The bilateral trade stood at around $27.5 billion in FY 2025-26, while Japan is now India’s fifth-largest source of FDI, reflecting the strong foundation for further expansion of economic ties.

The minister said that the presence of the delegation from Yamanashi Prefecture reflects the growing reach of the bilateral partnership into India’s States and regions. Highlighting Uttar Pradesh’s growing economic potential, Goyal said the state, under the leadership of Yogi Adityanath, is working towards its ambition of becoming a $1 trillion economy. Uttar Pradesh’s large and aspirational population, improving connectivity, industrial momentum and skilled workforce provide a strong platform for Japanese technology and expertise to complement India’s young workforce and expanding market.

Goyal said the growing India-Japan partnership is already visible on the ground, citing the Mumbai-Ahmedabad High-Speed Rail project, Japanese-assisted metro systems in Delhi, Ahmedabad, Bengaluru and Chennai, and 11 Japanese industrial townships across eight states. He noted that more than 1,400 Japanese companies are today operating in India, with household names such as Suzuki, Toyota and Honda in mobility, Sony in electronics, and Hitachi and Mitsubishi in engineering. Referring to the 16th India-Japan Annual Summit held in Delhi in July 2026, Goyal highlighted the strategic ambition underpinning the relationship, including Japan’s target of investing 10 trillion yen in India over the next decade.

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