New Delhi is actively seeking to enhance its economic partnership with Japan, aiming for increased investments from the country. In an interview with The Indian Express, Commerce and Industry Minister Piyush Goyal expressed optimism about the pace of investment following his recent four-day visit to Tokyo, Nagoya, and Osaka.

Strengthening Economic Ties

Goyal emphasized the importance of India becoming a global sourcing partner for Japan. He stated,

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"It took us so many years to get them to the table to talk. As of now, even terms of reference have not been discussed. We have just done a macro level opening."

He highlighted the need for Indian businesses to adopt a more outward-looking approach to attract Japanese investments. Goyal mentioned that India aims to bring Japanese goods to its market, thereby encouraging Japan to consider India as a global sourcing partner.

Investment Commitments

During his discussions, Goyal noted significant commitments from various countries:

  • European Free Trade Association (EFTA): $100 billion investment commitment.
  • New Zealand: $20 billion investment, with $10 billion already realized within ten months.