By Shailesh Yadav
Nagoya [Japan], August 26 (ANI): Prime Minister Narendra Modi has set a goal to double the variety of Japanese firms working in India to three,000, as New Delhi seeks to draw better Japanese funding, expertise and manufacturing into the nation, Union Commerce and Industry Minister Piyush Goyal mentioned on Wednesday.
Speaking to ANI throughout his go to to Nagoya, Goyal mentioned round 1,500 Japanese firms are presently working in India.
‘Around 1,500 Japanese firms are working in India. Prime Minister Narendra Modi has set a goal to extend this quantity to three,000 Japanese firms establishing operations and manufacturing in India,’ Goyal mentioned.
‘The purpose is to draw funding throughout numerous sectors, corresponding to monetary companies, insurance coverage, and pension funds, and to leverage Japanese expertise and funding on a big scale,’ he added.
Goyal mentioned progress was additionally being made in the direction of the goal of 10 trillion yen in Japanese non-public funding in India, which was set by the 2 international locations final 12 months.
‘Last 12 months, Japan made a dedication to take a position 10 trillion yen, which means roughly Rs 7 lakh crore. I’m happy to notice that throughout the first ten months alone, Rs 1 lakh crore, which means 10 billion {dollars}, of this quantity has already been realised,’ he mentioned.
‘I’m assured that the complete quantity might be invested in India over the subsequent three to 4 years,’ Goyal added.
Addressing the media individually in Nagoya, the minister mentioned India and Japan are intently aligned on utilizing Japanese expertise and funding to develop India as a producing base for the world, whereas additionally benefiting from India’s giant home market.
He mentioned discussions in the course of the go to had coated the semiconductor ecosystem intimately, together with chemical compounds, tools, uncooked supplies, chip design, manufacturing and packaging. Cooperation in shipbuilding, ship restore and ship-breaking, in addition to prescribed drugs, was additionally mentioned.
On textiles, Goyal mentioned Indian producers had prior to now not sufficiently tailored to the precise necessities of the Japanese market, together with variations in sizing, materials, kinds and design preferences.
He mentioned this was now altering, with Indian textile export promotion councils partaking extra intently with Japanese patrons. Meetings with main Japanese textile importers and retailers had elevated his confidence that Japan would each make investments extra in India’s textile sector and supply extra merchandise from Indian producers.
Goyal is on a four-day go to to Japan from August 24 to 27, overlaying Tokyo, Nagoya and Osaka, and is main a delegation of greater than 200 enterprise representatives, India’s largest-ever enterprise delegation to Japan.
India and Japan share a Special Strategic and Global Partnership. Bilateral commerce stood at round USD 27.5 billion in 2025-26, whereas Japan is India’s fifth-largest supply of international direct funding.
At the sixteenth India-Japan Annual Summit in July, the 2 international locations recognized financial partnership, together with financial safety, power resilience, expertise and innovation, as one of many key areas for deepening bilateral cooperation. The summit additionally famous progress in the direction of the ten trillion yen non-public funding goal set on the earlier India-Japan Annual Summit in August 2025. (ANI)