4 days ago

Goyal Urges Japan to Build 1,580 Suzukis in India

Piyush Goyal visited Japan to encourage more Japanese companies to invest in India.

He said India should create 1,580 successful companies like Suzuki.

The number refers to the 1,580 Japanese companies already operating in India.

More than 220 Indian business representatives joined the visit.

India and Japan are discussing ways to improve trade and reduce India’s trade deficit.

They are also exploring cooperation in energy, transport, medicines, semiconductors and important minerals.

Japan plans to invest $62 billion in India over the next 10 years.

Indian business representatives will visit Japanese factories to learn about technology and find new partnerships.

Key facts

Japanese companies in India: 1,580 companies are currently operating in India, according to Goyal’s remarks.
Indian delegation: More than 220 Indian industry representatives are accompanying Goyal in Japan.
Bilateral trade: Trade between India and Japan is around $27.47 billion.
Trade agreement: The countries are reviewing their 2011 India-Japan trade agreement.
Japanese investment target: Japan has set a target of investing $62 billion in India over the next 10 years.
Investment so far: Around $1.2 billion of that target has already been invested.
Potential vaccine partnership: Meiji Seika Pharma is exploring a partnership with Serum Institute of India to supply a Japanese encephalitis vaccine.

businesstoday.in · 4 days ago