Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India’s expanding semiconductor and digital infrastructure opportunities during a bilateral meeting with Japan’s Economy, Trade and Industry Minister Akazawa Ryosei in Tokyo, as the two countries seek to deepen economic engagement and accelerate progress on a targeted ¥10 trillion investment roadmap.
The discussions covered Artificial Intelligence (AI), semiconductors and their wider ecosystem, including equipment and chemicals, as well as data centres, shipbuilding, green ammonia and high-precision engineering. Goyal also pointed to shipbreaking, textiles and engineering, procurement and construction (EPC) as areas where greater India-Japan industrial cooperation could be explored.
“We expect our semiconductor demand to grow up to $150 billion by 2032… We would like to make India a major global electronics manufacturing base,” noted Union Commerce Minister Piyush Goyal, while speaking at a roundtable on Semiconductor and Artificial Intelligence, Tokyo, Japan.
He went on to add, “The complementarity between Japan and India makes it a very strategic opportunity. I hope that by working together, we can meet the aspirations of 1.4 billion Indians and the growing opportunities that Japan is looking for through the India growth story.”
Goyal said India’s semiconductor opportunity is not limited to chip manufacturing, but extends across the broader ecosystem covering equipment, chemicals and other supporting industries. He put the potential domestic semiconductor market at around $150 billion, while emphasising that partnerships with Japanese companies could help Indian businesses tap demand beyond the domestic market.
He also highlighted India’s growing data-centre ecosystem, saying the country has secured $200 billion in commitments from global hyperscalers for data-centre investments.
Goyal said the India-Japan economic relationship could broadly be built around four areas: higher trade, technology collaboration, increased investment and tourism.