Goyal Seeks ¥10 Trillion Japanese Investment in India by 2035
India's Commerce and Industry Minister Piyush Goyal concluded his four-day visit to Japan on Thursday, successfully advancing New Delhi's efforts to secure ¥10 trillion (approximately $60 billion) in Japanese investment into India by 2035. This ambitious target was set last year during Prime Minister Narendra Modi's visit to the East Asian nation.
Goyal held discussions with government leaders, financial institutions, and business executives from over 30 major Japanese companies, including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan, and Morgan Stanley MUFG Securities. The engagements focused on expanding investment, strengthening resilient supply chains, advancing technology partnerships, and creating new avenues for business-to-business collaboration between the two countries.
The minister highlighted India's ambition to build a globally competitive semiconductor ecosystem, with semiconductor demand projected to reach $150 billion by 2032. He outlined the government's six-pillar strategy, including chip design, semiconductor machinery and materials, fabrication, back-end processing, research and development, and talent building.