Goyal Seeks Deeper Japanese Investment in Emerging Sectors
India's Commerce and Industry Minister Piyush Goyal met with industry representatives from top Japanese companies, including MUFG and Development Bank of Japan (DBJ), during his visit to Tokyo. The goal was to deepen Japanese investment in emerging sectors such as semiconductors, artificial intelligence, data centres, renewable energy, and advanced manufacturing. Goyal highlighted the strength of India's banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class, and rising disposable incomes as key drivers of sustained economic growth.
The meeting also explored the potential of GIFT City as a gateway for international capital into India and as a platform for facilitating greater cross-border investment flows between Japan and India. MUFG highlighted its investment of around USD 4 billion in Shriram Finance and its expanding interests in areas including renewable energy and hydrogen.
Goyal noted that India recorded 7.7 per cent growth last year despite global uncertainties, and underscored the significant opportunities for Japanese investors in various sectors. The meeting brought together senior representatives of leading companies, Foreign Institutional Investors (FIIs), and government officials to take forward understandings reached by the two countries' Prime Ministers at the Annual Summit in July.