From aluminium to semiconductors, Piyush Goyal pitches India to Japanese industry

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Union Commerce and Industry Minister Piyush Goyal has met senior executives from Japanese companies in Osaka, pitching India as an investment and manufacturing partner across semiconductors, electronics, aluminium, paints and coatings, and sports goods.

The meetings formed part of Goyal’s four-day Japan visit, where he led India’s largest-ever business delegation to the country. The trip focused on encouraging Japanese companies to expand manufacturing, technology partnerships and supply-chain investments in India. 

Focus on electronics and aluminium

Goyal met a delegation led by Katsumi Azuma, president and chief executive of ROHM Co. Ltd., to discuss potential cooperation in semiconductor and electronic-components manufacturing.

India has been developing its semiconductor and electronics manufacturing ecosystem through domestic production incentives, growing consumer demand and a broader push to build resilient supply chains. Goyal said the sector offered scope for deeper collaboration and investment with Japanese companies. "India's expanding electronics ecosystem offers significant scope for greater collaboration and investment," the Minister stated. 

The minister also met Takaaki Yamamoto, chairman of Daiki Aluminium, to discuss the company’s presence in India and opportunities for further cooperation in aluminium manufacturing and associated industries. The talks highlighted India’s expanding industrial base and demand growth as potential drivers for investment. "Discussed the company's engagement in India and opportunities to deepen collaboration in aluminium manufacturing and allied industries by leveraging India's growing manufacturing ecosystem and rising demand," he said.

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Paints, coatings and sports goods

In a separate meeting, Goyal met Yuichiro Wakatsuki, director, representative executive officer and co-president of Nippon Paint Holdings. The discussion focused on expanding India-Japan cooperation in paints and coatings, a sector linked to construction, infrastructure, automotive production and industrial manufacturing.

He also met Akito Mizuno, representative director and president of Mizuno Corporation, to explore investment and collaboration in sports gear, sportswear and footwear. Goyal said greater Japanese participation could support innovation and improve the global competitiveness of India’s sports manufacturing industry. 

"Discussed opportunities for investment and greater collaboration in India across sports gear, sportswear and footwear segments, with a focus on driving innovation & enhancing the global competitiveness of India's sports industry," he explained.

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Wider trade and investment agenda

The Osaka meetings concluded Goyal’s August 24-27 visit to Japan, which included a 200-plus-member Indian business delegation and engagements in Tokyo, Nagoya and Osaka. The itinerary covered sectors including manufacturing, semiconductors, clean energy, automotive, steel, financial services, healthcare and start-ups. 

India and Japan recorded bilateral trade of USD 27.47 billion in FY 2025–26, up 9.18 per cent from USD 25.16 billion in the previous financial year. India imported USD 21.43 billion in goods from Japan and exported USD 6.04 billion, leaving a substantial trade deficit that New Delhi hopes to narrow through greater investment, domestic manufacturing and exports. 

What to watch

The Osaka meetings do not amount to announced investments or binding commercial agreements. Their immediate importance lies in targeted engagement with companies in sectors where India is seeking technology, capital and manufacturing capacity.

Any subsequent investment commitments—particularly in semiconductors, electronic components, aluminium processing or advanced manufacturing—would indicate whether the visit translates from investment outreach into concrete projects.

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