Commerce and Industry Minister Shri Piyush Goyal Leads A 200-Member Business Delegation to Japan
The Ministry of Commerce and Industry led a business delegation of more than 200 representatives to Japan from August 24-27, 2026, covering Tokyo, Nagoya, and Osaka — described as India's largest-ever business delegation to Japan.
The delegation spans sectors including manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare, and start-ups.
Planned engagements include meetings with major Japanese conglomerates and a round-table with Keidanren (Japan Business Federation) in Tokyo, a roadshow with Chukeiren (Central Japan Economic Federation) and the Nagoya Chamber of Commerce & Industry in Nagoya, and an investor/business roadshow in Osaka.
The visit is framed as reinforcing the India-Japan Special Strategic and Global Partnership, with an aim to deepen bilateral trade and investment ties.
India-Japan Special Strategic and Global Partnership
India and Japan elevated their relationship to a "Special Strategic and Global Partnership" in 2014, reflecting deepening political trust, economic complementarity (Japan's capital and technology matched with India's market and labour), and shared interest in a free, open, and rules-based Indo-Pacific. The partnership is anchored by annual bilateral summits and institutionalized economic cooperation instruments, including the Comprehensive Economic Partnership Agreement (CEPA).
Key Details
- Partnership upgraded to "Special Strategic and Global Partnership" in 2014.
- Annual India-Japan Summit is the apex mechanism; supplemented by a "2+2" Foreign and Defence Ministerial Dialogue.
- Japan is a key partner in India's infrastructure financing (e.g., Mumbai-Ahmedabad High Speed Rail, funded via Japanese ODA/soft loans through JICA).
The 200-member delegation visit is explicitly framed by the government as advancing this Special Strategic and Global Partnership through expanded private-sector engagement.
India-Japan CEPA (2011)
The India-Japan Comprehensive Economic Partnership Agreement (CEPA) was signed on February 16, 2011, and entered into force on August 1, 2011. It is a comprehensive trade agreement covering goods, services, investment, movement of natural persons, intellectual property rights, and customs procedures, and envisaged the elimination of tariffs on over 94% of traded items over a phased period (up to 10 years).
Key Details
- Signed: February 16, 2011; entered into force: August 1, 2011.
- Tariff elimination target: over 94% of tariff lines/traded items over the phase-out period.
- Covers trade in goods and services, investment, and movement of natural persons (a chapter significant for Indian IT/services professionals).
- Bilateral trade under the CEPA framework reached approximately $21.96 billion in FY 2022-23.
The Nagoya and Osaka roadshows target manufacturing and automotive investment — sectors where CEPA-driven tariff elimination has already lowered trade barriers, providing the institutional base the current delegation seeks to build on.
Semiconductor Cooperation and the India Semiconductor Mission (ISM)
The India Semiconductor Mission (ISM) was approved in December 2021 with a financial outlay of ₹76,000 crore to build a domestic semiconductor and display manufacturing ecosystem, offering fiscal support of up to 50% of project cost for eligible fabrication, display, compound semiconductor, and packaging (ATMP/OSAT) units. ISM functions as an independent business division under the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY). A follow-on phase, Semicon India 2.0, was subsequently approved with an outlay of ₹1,27,500 crore to widen the ecosystem further.
Key Details
- ISM approved: December 2021; initial outlay: ₹76,000 crore.
- Fiscal support: up to 50% of project cost under ISM 1.0.
- Semicon India 2.0 outlay: ₹1,27,500 crore (expansion phase).
- Japan is a strategic semiconductor partner under a bilateral India-Japan semiconductor supply chain partnership (signed 2023), given Japan's strength in semiconductor materials and equipment manufacturing.
Semiconductors are explicitly listed among the sectors represented in the delegation, aligning with the government's push to attract Japanese semiconductor-linked investment into India's ISM-backed manufacturing ecosystem.
Bilateral Trade and Japanese FDI into India
Japan has historically been among India's significant sources of foreign direct investment (FDI), driven substantially by CEPA-linked market access and long-standing manufacturing partnerships in the automotive and electronics sectors.
Key Details
- Cumulative Japanese FDI into India (2000 to mid-2023): approximately $38.74 billion, making Japan one of the top five source countries for FDI into India.
- Bilateral trade (goods) under the CEPA framework: approximately $21.96 billion in FY 2022-23.
- Japan is a long-standing partner in Indian automotive manufacturing (e.g., joint ventures dating to the 1980s) and infrastructure financing through Japan International Cooperation Agency (JICA) soft loans.
The delegation's sectoral focus (automotive, manufacturing, financial services) mirrors the historical composition of Japan-India economic ties, with the visit aimed at expanding this existing investment base.
- Delegation size: 200-plus business representatives; described as India's largest-ever business delegation to Japan.
- Visit dates: August 24-27, 2026; cities covered: Tokyo, Nagoya, Osaka.
- India-Japan CEPA: signed February 16, 2011; in force from August 1, 2011; targets tariff elimination on over 94% of traded items.
- India Semiconductor Mission: approved December 2021; outlay ₹76,000 crore (ISM 1.0), expanded via Semicon India 2.0 (₹1,27,500 crore).
- Cumulative Japanese FDI into India (2000-June 2023): approximately $38.74 billion.
- India-Japan bilateral trade: approximately $21.96 billion in FY 2022-23.
- India-Japan relationship upgraded to "Special Strategic and Global Partnership": 2014.