Piyush Goyal in Tokyo urges Japanese investment, wants 1,580 Suzukis
Commerce and Industry Minister Piyush Goyal is in Tokyo this week, encouraging Japanese companies to invest more in India.
He pointed out Suzuki's huge success here (Suzuki's Indian operation is now worth more than its parent company) and said he hopes to create 1,580 Suzukis across the country.
Japan aims $62B investment in India
Goyal's visit isn't just about investments; he wants to bridge the India-Japan bilateral trade deficit, $27.47 billion with Japan and revisit the 2011 India-Japan trade deal.
Japan aims to invest $62 billion in India over the next decade, with $1.2 billion already invested, and 1,580 Japanese firms are active in India.
Goyal also met leaders from Sumitomo, Meiji Seika Pharma (which might team up with Serum Institute for a vaccine), and Mitsubishi to discuss future projects, from mobility and energy to infrastructure.
Indian delegates are checking out companies like Hitachi and Panasonic for possible collaborations in tech and semiconductors.