1 week ago
Goyal Says India Targets $30-Trillion Economy With Japanese Investment
India’s Commerce Minister Piyush Goyal said the country grew quickly last year.
He said India wants to become a $30 trillion economy by 2047.
He discussed this goal with large Japanese banks and investment companies in Tokyo.
India wants these companies to invest more money for a long time.
Goyal said India has strong banks, more people with money to spend and many skilled workers.
He pointed to areas such as computer chips, artificial intelligence, clean energy and digital infrastructure.
Japanese companies said they are already investing and expanding in India.
India views Japan as an important partner for its economic growth.
India recorded 7.7% growth last year despite global uncertainties, Piyush Goyal said.
Goyal said India is working toward becoming a $30 trillion economy by 2047.
Discussions with Japanese financial institutions focused on long-term capital flows and investment partnerships.
India highlighted opportunities in semiconductors, artificial intelligence, data centres, renewable energy and advanced manufacturing.
Japanese institutions described expanding investments and operations in India across finance, energy, property and technology.
- Who
- Commerce and Industry Minister Piyush Goyal and senior representatives of Japanese financial and investment institutions.
- What
- Discussions focused on increasing Japanese investment in India and supporting India’s goal of becoming a $30 trillion economy by 2047.
- Where
- Tokyo, Japan.
- When
- Tuesday; the article does not specify the date.
- Why
- To strengthen long-term capital flows, deepen investment partnerships and expand Japanese participation in India’s economic growth.
Key facts
- India’s reported growth
- 7.7% last year
- Long-term economic goal
- A $30 trillion economy by 2047
- Japanese institutions represented
- MUFG, Development Bank of Japan, Mizuho, Morgan Stanley, Nomura and Nippon Life
- Investment opportunities highlighted
- Semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure
- MUFG investment cited
- Around $4 billion in Shriram Finance
- Morgan Stanley’s India workforce
- More than 19,000 employees
- Other Indian strengths cited
- Banking-sector capital adequacy, low non-performing assets, an expanding middle class and rising disposable incomes
Sources
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