India's Largest Business Delegation Visits Japan

Union Commerce and Industry Minister Piyush Goyal is leading India's largest-ever business delegation to Japan from August 24 to 27, with a focus on deepening economic and technology partnerships. The delegation, comprising more than 200 business representatives, will travel to Tokyo, Nagoya, and Osaka, according to the Ministry of Commerce & Industry.

The visit is part of the Special Strategic and Global Partnership between the two nations, with the ministry stating that the visit "reflects the scale of ambition both nations bring to their Special Strategic and Global Partnership, and comes at a time when India and Japan are looking to significantly deepen trade and investment ties."

High-Level Engagements and Sectoral Focus

In Tokyo, Goyal is scheduled to hold a series of meetings with top executives from major Japanese conglomerates, alongside a round-table with Keidanren, the Japan Business Federation, which represents over 1,500 leading Japanese companies. Dedicated sessions are planned on semiconductors, artificial intelligence, start-ups, and engagement with foreign institutional investors, according to the commerce ministry.

The minister will also hold bilateral discussions with Akazawa Ryosei, Japan's Minister of Economy, Trade and Industry, and is scheduled to call on senior members of the Japanese government and Parliament, as well as interact with the Indian community in Japan.

Ahead of the visit, FICCI Director General Jyoti Vij indicated that India and Japan are set to step up cooperation in semiconductors and electronics. "High-technology areas such as semiconductors and electronics are key domains where both nations can build greater strength and expand mutual cooperation," Vij told ANI, adding that collaboration would also extend to traditional sectors. Vij also confirmed that the delegation will hold at least as many B2B meetings as its size, alongside extensive networking sessions and around 15 site visits.

Delegation Itinerary: Nagoya and Osaka

The delegation will travel to Nagoya, the industrial heartland of Central Japan, where Goyal will lead a business roadshow organized with the Central Japan Economic Federation (Chukeiren) and the Nagoya Chamber of Commerce and Industry. Engagements in Nagoya also include meetings with the leadership of Aichi Prefecture and major manufacturing investors in the automotive and steel sectors.

The tour will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across electronics, industrial, and consumer sectors, according to the ministry.

Goyal Meets Japanese Business Leaders

On the first day of the visit, Goyal met with Shingo Ueno, President and CEO of Sumitomo Corporation, to discuss opportunities to deepen the company's engagement with India across energy transformation, mobility, and industrial infrastructure. He also met Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma, to discuss strengthening cooperation in the pharmaceutical sector and avenues to expand the company's manufacturing and R&D footprint in India. "India's pharmaceutical ecosystem offers significant opportunities for our Japanese partners to scale and achieve long-term growth," said Goyal in a statement.

Economic Outlook and Trade

Japan has set an investment target of 10 trillion yen (about ₹60,000 crore) in India over a decade, and is currently India's fifth-largest source of foreign direct investment, with over 1,400 Japanese companies operating in the country, reported The Economic Times. India's bilateral trade with Japan grew 9.18% to $27.47 billion in 2025-26, with exports at $21.43 billion and imports at $6.04 billion, according to government data cited by The Hindu.

Trade and Investment Talks

Speaking to business representatives, Goyal said India is negotiating free trade agreements with at least 8-9 more groups of countries and individual nations that together account for another $15 trillion of GDP. He added that the country's free trade agreements would eventually cover about 75% of global trade, and help position India as a trusted partner in global value chains. "So today India opens up the doors to preferential market access to $70 trillion of economy. Basically 75 per cent of global trade will be covered through our free trade agreements, opening India to become a part of the global value chain as a trusted partner," he said.

Outlook

Addressing a roundtable meeting with the Japan-India Business Consultative Committee on Monday, Goyal called for a deeper business-to-business cooperation between the two countries, saying, "I believe that this decade should see that number double from the current levels." He also highlighted that the two countries' leaders have designated 2026 as the 'India-Japan Year of Shared Horizons' to mark 75 years of diplomatic relations.