New Delhi [India], December 16 (ANI): Union Minister of Commerce and Industry Piyush Goyal held discussions with Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee (JIBCC), to discover methods to additional strengthen commerce and financial ties between India and Japan.
In a social media put up, the Commerce Minister stated that he had a productive dialogue with Tatsuo Yasunaga and his delegation.
Goyal acknowledged, ‘Had a productive dialogue with Mr. Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee (JIBCC) and his delegation. Explored alternatives to additional strengthen India-Japan commerce ties, improve enterprise cooperation, and foster innovation in key sectors. Looking ahead to deepening this dynamic partnership for mutual progress and prosperity’.
India and Japan share sturdy and steadily rising commerce relations. Japan’s bilateral commerce with India totalled USD 25.17 billion throughout FY25. Of this, exports from Japan to India stood at USD 18.92 billion, whereas imports from India have been valued at USD 6.25 billion.
As per authorities information, Japan’s exports to India accounted for two.06 per cent of India’s whole imports throughout FY25, whereas India’s exports to Japan fashioned 0.75 per cent of India’s whole exports in the identical interval. India exported round 3,900 commodities to Japan throughout FY25, highlighting the range of commerce between the 2 nations.
Major objects exported from India to Japan embody engineering items value USD 2.44 billion, natural and inorganic chemical substances valued at USD 1.06 billion, marine merchandise value USD 408.45 million, digital items value USD 658.45 million, gems and jewelry valued at USD 239.51 million, and medicines and prescription drugs value USD 231.52 million throughout FY25.
On the import facet, India imported round 4,000 commodities from Japan in FY25. Imports from Japan to India stood at USD 18.92 billion through the 12 months. Key imports included nuclear reactors value USD 3.31 billion, electrical equipment and gear valued at USD 2.01 billion.
The latest engagement between the Commerce Minister and the JIBCC Chairman comes shut on the heels of high-level political exchanges between the 2 nations.
At the invitation of the Prime Minister of Japan, Ishiba Shigeru, Prime Minister of India Narendra Modi paid an official working go to to Japan on August 29-30, 2025, for the fifteenth India-Japan Annual Summit.
During the summit, the 2 Prime Ministers welcomed sustained high-level exchanges, ministerial and parliamentary engagements, reflecting the depth of belief and energy of the bilateral relationship.
Over the previous decade, the India-Japan partnership has expanded considerably throughout areas akin to safety, defence, commerce, funding, commerce, science and know-how, abilities and mobility, and cultural and people-to-people ties. (ANI)