India-Japan Trade Falls Short of Potential at USD 27.5 Billion

Union Commerce and Industry Minister Piyush Goyal recently addressed a Japanese delegation at the UP-Japan Investment Meet 2026, highlighting the potential of bilateral trade between India and Japan. According to Goyal, the current trade volume stands at around USD 27.5 billion in FY 2025-26, but this figure is considered a fraction of what could be achieved between the two countries.

Goyal emphasized that the bilateral relationship has set a target of 10 trillion yen in Japanese investment in India over the next decade, indicating a significant growth potential. The current trade volume, while substantial, remains relatively low compared to the potential.