New Delhi, August 19 (IANS). Economic and strategic relations between India and Japan are continuously strengthening. The central government has said that the partnership between the two countries is based on common aspirations for peace, progress and shared prosperity in the Indo-Pacific region. In this series, Union Commerce and Industry Minister Piyush Goyal will visit Japan next week, where he will discuss giving a new direction to investment, trade and industrial cooperation between the two countries.
Union Minister Piyush Goyal, while addressing an event organized in the honor of the Japanese delegation by the Uttar Pradesh government, invited Japanese companies to increase investment and participation in India. Uttar Pradesh Chief Minister Yogi Adityanath was also present in this program.
Goyal said he would visit Japan between August 24 and 27. During this, he will interact with top representatives of the Japanese government and industry, so that the special strategic and global partnership between the two countries can be further strengthened.
He said that bilateral trade between India and Japan has increased to about $ 27.5 billion in the financial year 2025-26. With this, Japan has now become the fifth largest source of Foreign Direct Investment (FDI) in India. This shows the strength and future prospects of economic relations between the two countries.
The Minister said that the presence of the delegation from Yamanashi Prefecture of Japan is an indication that India-Japan cooperation is no longer limited to the national level, but is also expanding to the state and regional levels.
Referring to the development journey of Uttar Pradesh, Goyal said that under the leadership of Chief Minister Yogi Adityanath, the state is moving rapidly towards the goal of becoming a $1 trillion economy. He said the state's large population, improving connectivity, industrial growth and skilled workforce provide attractive investment opportunities for Japanese companies.
Goyal said India's young workforce and fast-growing market, combined with Japan's technological expertise, can create huge economic opportunities for both the countries.
He also said that the results of India-Japan partnership are clearly visible on the ground. The Mumbai-Ahmedabad high-speed rail project, metro projects developed with Japanese assistance in Delhi, Ahmedabad, Bengaluru and Chennai, and 11 Japanese industrial townships established in eight states of the country are prominent examples of this cooperation.
The minister said that currently more than 1,400 Japanese companies are doing business in India, which includes automobile companies like Suzuki, Toyota and Honda, electronics companies like Sony and engineering companies like Hitachi and Mitsubishi.
Piyush Goyal also mentioned the 16th India-Japan Annual Summit to be held in New Delhi in July 2026. He said that this summit has provided new energy to the relations between the two countries. He specifically mentioned Japan's target under which it wants to invest 10 trillion yen in India in the next decade.
–IANS
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