Japan has already invested about 15% of its ₹7 lakh crore investment target for India, Commerce and Industry Minister Piyush Goyal said, as he called for more Japanese companies, particularly small and medium enterprises, to set up operations in the country.

Speaking at a press conference in Nagoya during his visit to Japan, Goyal urged Japan to send an investment survey mission to explore opportunities for its SMEs in India’s industrial townships.

The minister said the government hopes to double the number of Japanese companies operating in India to 3,000 from about 1,500 currently.


Japan has set a target of investing 10 trillion yen, or roughly ₹7 lakh crore, in India. Goyal’s 15% figure suggests that a little over ₹1 lakh crore of that target has already been invested.

The push comes as bilateral trade is also expected to expand. An ASSOCHAM report has projected India-Japan trade to rise to $50 billion by 2030 from $27.47 billion in 2025-26.

India, Japan look to update 15-year-old trade pact

Goyal said the two countries are also looking at expanding the scope of their existing trade agreement.

The India-Japan Comprehensive Economic Partnership Agreement (CEPA), signed in 2011, has now been in place for 15 years. Goyal said Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi discussed a review of the agreement last month.

Both leaders agreed on the need to broaden its scope and create more opportunities for trade, he said.

The two countries have yet to finalise the Terms of Reference (ToR), which would determine the scope and terms of negotiations for an updated trade pact. Goyal, however, said both sides remain committed to expanding bilateral trade.

Govt wants more Japanese investment

Goyal said Japanese companies are already willing to form joint ventures with Indian businesses, but greater efforts are needed to turn that interest into actual investment.

The government’s pitch is therefore two-fold: attract more Japanese capital into India and substantially increase the number of Japanese companies with a presence in the country.

Goyal also addressed India’s relatively limited exports to Japan in some sectors.

He said the Indian textile industry had previously shown insufficient interest in the Japanese market and had struggled to meet differences in sizes, styles and other requirements.

That is beginning to change, he said, with two delegations of Indian apparel exporters visiting Japan to better understand the needs of Japanese consumers.

Goyal asks exporters to meet Japan’s food standards

On concerns about high non-tariff barriers facing Indian food exports to Japan, Goyal said exporters would have to make additional efforts to comply with stringent quality requirements.

He said Indian companies should meet high food-safety standards not only when exporting but also when selling products domestically.

Goyal referred to the recent enforcement drive led by Maharashtra Food and Drug Administration Commissioner Tukaram Mundhe as an example of stricter implementation of food-safety standards at home.

For Indian exporters, Goyal’s message was that gaining greater access to the Japanese market will require adapting products and meeting Japan’s demanding quality standards rather than relying only on lower trade barriers.