Goyal highlights growing India-Japan investment and trade ties

Commerce Minister Piyush Goyal said Japanese investments remain central to India-Japan ties, highlighting cooperation in automobiles, infrastructure and technology. He expressed confidence in the Mumbai-Ahmedabad bullet train project, encouraged greater trade and investments, and stressed opportunities for Indian healthcare professionals in Japan

New Delhi: Commerce and Industry Minister Piyush Goyal said on Thursday that investments have been a big driver of India’s partnership with Japan, and these are set to strengthen. In a conversation with NDTV’s Editor-in-Chief Rahul Kanwal at ‘The Indo-Japan Strategic Dialogue’, Goyal said Japan’s engagement with India has largely focused on investments.

The discussion came against the backdrop of Japanese Prime Minister Sanae Takaichi’s arrival in Delhi for the 16th India-Japan Summit.

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“Maruti Suzuki came to India nearly 40 years ago and brought modern, affordable, technology-driven automobiles, which ultimately set India on track to become a global power in the auto sector,” Goyal said.

“In May, Maruti Suzuki accounted for 1.47 lakh cars out of 4 lakh passenger vehicles sold in India,” he noted.

Elaborating on Japan’s role in specific sectors, Goyal said the first dedicated freight corridor in India was built in partnership with Japan in Odisha, and helped evacuate iron ore.

Describing the trade engagement as multi-dimensional, the minister said India imports technology-driven products from Japan while exporting value-added goods.

“We are not selling raw materials or intermediates. We’re selling Japan high-quality, precision-engineered material, auto components, and electronic components. So, this relationship has both trade and investment dimensions,” he said.

About the next chapter in the India-Japan partnership, the minister said India values its trade partnership with Japan and looks forward to taking it to the next level.

“We encourage more trade and investments with Japan,” he added.

One of the flagship India-Japan projects is the 508-kilometre Mumbai-Ahmedabad high-speed rail corridor. Using Japanese Shinkansen technology, trains will run at 320 km/h, cutting travel time between the two cities from over six hours to just over two hours.

Addressing delays in the project, Goyal targeted the previous MVA government in Maharashtra. He accused the Uddhav Thackeray government of stalling land acquisition “for the sake of politics”.

“We were on track, and almost all land on the Gujarat side was acquired. But the MVA government, maybe out of spite for the people of Maharashtra, didn’t allot land for key stations. We lost a lot of time in the process,” the minister said.

He assured that with the BJP-led government in the state, the project is back on track for the 2029 deadline.

“The land for the station has been given. My sense is the project is now on track,” he said.

Goyal also highlighted more opportunities for Indian professionals in Japan, especially in the healthcare sector. Referring to the demand for skilled caregivers for Japan’s ageing population, Goyal said knowledge of the Japanese language and culture could open avenues for Indian healthcare professionals.

“Japan is looking for highly skilled caregivers. But one prerequisite, and rightly so, is that the person should know Japanese. Otherwise, how will they provide nursing care to the elderly in Japan?” the minister said.

“If you have a combination of language skills and knowledge of their culture, it makes it even better,” he remarked.