Piyush Goyal meets Sumitomo, Mitsubishi, Meiji leaders in Tokyo; pushes India investment

Union Commerce and Industry Minister Piyush Goyal on Monday met the top leadership of Japanese conglomerates Sumitomo Corporation, Meiji Seika Pharma and Mitsubishi Corporation in Tokyo, discussing opportunities to expand their engagement with India across sectors.

Goyal, who is on a four-day visit to Japan leading India's largest-ever business delegation to the country, held separate meetings with Sumitomo Corporation President and CEO Shingo Ueno, Meiji Seika Pharma President and Representative Director Toshiaki Nagasato, and Mitsubishi Corporation Representative Director Juro Baba.

"India's investment-led growth and expanding manufacturing ecosystem offer immense opportunities for greater collaboration, further strengthening the India-Japan economic partnership," Goyal said in a post on X after his meeting with Ueno.

The minister said the discussions covered opportunities to deepen Sumitomo Corporation's engagement with India in energy transformation, mobility and industrial infrastructure.

In his meeting with Nagasato, Goyal discussed strengthening India-Japan cooperation in pharmaceuticals and expanding Meiji Seika Pharma's manufacturing and research and development footprint in India.

"India's pharmaceutical ecosystem offers significant opportunities for our Japanese partners to scale & achieve long-term growth," he said.

Goyal also met Baba and discussed building on Mitsubishi Corporation's "long-standing presence in India", which spans more than nine decades, and expanding cooperation in mobility, energy and infrastructure.

"India remains committed to enabling partnerships that support industrial growth and resilient supply chains," Goyal said.

What's on agenda?

Goyal is visiting Japan from August 24 to 27, travelling to Tokyo, Nagoya and Osaka, with a business delegation of more than 200 representatives spanning manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare and start-ups.

During the Tokyo leg, Goyal is scheduled to meet the leadership of major Japanese companies, participate in a roundtable with Keidanren, Japan's apex business federation, and hold sessions on semiconductors and artificial intelligence, start-ups and foreign institutional investors.

He will also hold bilateral talks with Japan's Minister of Economy, Trade and Industry Akazawa Ryosei and meet senior Japanese government and parliament members.

The visit comes as India and Japan seek to deepen trade and investment ties under their Special Strategic and Global Partnership.

In Nagoya, Goyal will lead a roadshow with the Central Japan Economic Federation and Nagoya Chamber of Commerce and Industry, besides engaging with Aichi Prefecture leaders and major investors in the automotive and steel sectors.

The visit will conclude in Osaka with an investors and business roadshow and meetings with Japanese companies from the electronics, industrial and consumer sectors.