India, Japan pursue closer partnership with $27.5bn trade, 10tn yen
India and Japan are looking to level up their partnership, with Union Commerce and Industry Minister Piyush Goyal spotlighting a huge opportunity for more trade.
In FY 2025-26, bilateral trade stood at around $27.5 billion, but there is a target of 10 trillion yen in Japanese investment in India over the next decade, especially in artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility.
Piyush Goyal: Japan investments power 2047
Goyal says these investments are set to power India's big development dreams for 2047.
Japan is already a major player here (think Suzuki and Toyota), teaming up on projects like bullet trains and metro systems.
Uttar Pradesh is also getting attention as a hot spot for Japanese companies, thanks to its growing economy and skilled workforce.