1 week ago
Goyal Pitches Japanese Expansion and $30 Trillion India Vision
India’s Commerce Minister Piyush Goyal wants more Japanese companies to expand in India.
He said the number of Japanese companies should double during this decade.
He praised Suzuki for building a large and successful business in India.
He asked the 1,580 companies represented at the meeting to create similar success stories.
This does not mean that exactly 1,580 Japanese companies currently operate in India.
The Indian government says more than 1,400 Japanese companies already operate there.
Goyal also said India wants to grow its economy from $4 trillion to $30 trillion by 2047.
He hopes Japanese investment, technology and partnerships will help support that growth.
Piyush Goyal urged Japanese companies to double their presence in India during the current decade.
He asked Japanese firms to create large-scale Indian success stories similar to Suzuki, calling for “1,580 Suzukis.”
More than 1,400 Japanese companies currently operate in India, while 1,580 firms were represented at the meeting.
Goyal presented India’s goal of growing from a $4 trillion economy to $30 trillion by 2047.
His August 24-27 Japan visit includes more than 200 Indian business representatives and stops in Tokyo, Nagoya and Osaka.
- Who
- India’s Commerce and Industry Minister Piyush Goyal, Japanese companies and an Indian business delegation of more than 200 representatives.
- What
- Goyal urged Japanese firms to expand in India, double their presence and build businesses comparable to Suzuki’s operations.
- Where
- At a business roundtable in Tokyo organized by the Japan-India Business Consultative Committee, the Japan Chamber of Commerce and Industry, and the Embassy of India.
- When
- During Goyal’s four-day visit from August 24 to August 27, 2026; the roundtable took place on Monday.
- Why
- To deepen India-Japan economic cooperation, attract investment and support India’s manufacturing, technology and long-term economic growth.
Key facts
- Existing Japanese companies
- More than 1,400 Japanese companies operate in India, according to the Commerce Ministry.
- Companies represented
- Goyal referred to 1,580 Japanese companies represented at the business meeting.
- Economic target
- India aims to grow from a $4 trillion economy to a $30 trillion economy by 2047.
- Japanese investment target
- Japan has a target of investing 10 trillion yen in India over 10 years.
- Recent investment commitments
- Investment commitments totaling 2 trillion yen had been made by July 2, 2026, according to Japan’s Prime Minister’s Office.
- Bilateral trade
- India-Japan trade totaled about $27.47 billion in financial year 2025-26.
- Trade balance
- Japan exported $21.43 billion to India, while India exported $6.04 billion to Japan, producing a reported $15.39 billion deficit for India.
- Diplomatic milestone
- 2026 is designated the India-Japan Year of Shared Horizons, marking 75 years of diplomatic relations.
Quotes
Piyush Goyal
India’s Union Commerce and Industry Minister
“We are looking at Japan being our partner in this journey as we progress from a $4 trillion economy today to a $30 trillion economy by 2047, when we celebrate 100 years of independence. It's an ambitious target, but 1.4 billion Indians are committed to making this happen”
financialexpress.com
firstpost.com
thehansindia.com
“We already have a large number of Japanese companies working in India. I believe that this decade should see that number double from the current levels,”
financialexpress.com
firstpost.com
thehansindia.com
Sources
From FTAs to $30 trillion economy: What Goyal is pitching in Japan - 'create 1,580 more Suzukis in India' - Business News
Piyush Goyal seeks to double Japanese business presence in India, pitches $30 trillion growth vision in Tokyo
Piyush Goyal urges Japanese firms to create ‘1,580 Suzukis’ out of India
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