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Goyal pushes for ¥10 trillion in Japanese investment into India by 2035

Commerce minister meets Japanese financial institutions and companies as India seeks investment in semiconductors, technology and resilient supply chains

Hemlata Samant New Delhi 3 min read Last Updated : Aug 27 2026 | 8:09 PM IST

Commerce and Industry Minister Piyush Goyal, who concluded his four-day visit to Japan on Thursday, advanced New Delhi’s efforts to garner ¥10 trillion (around $60 billion) in Japanese investment into India during the visit. India and Japan had set the ambitious investment target last year during Prime Minister Narendra Modi’s visit to the East Asian nation.

During the visit, Goyal held discussions with government leaders, financial institutions and business executives, including more than 30 major Japanese companies and institutions such as MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley MUFG Securities, among others.

“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 commerce ministry said in a press statement.

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.

The minister emphasised that the country’s large pool of skilled and young talent, combined with Japan’s cutting-edge technology, engineering expertise and manufacturing capabilities, can catalyse a world-class semiconductor and technology revolution in India.

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