Shri Piyush Goyal Holds Bilateral Meeting with Japan’s Minister of Economy, Trade and Industry; Both Ministers Agree to Accelerate Review of CEPA

Union Minister of Commerce and Industry, Shri Piyush Goyal, today chaired a roundtable with leading Japanese and Indian industry representatives on Semiconductors and Artificial Intelligence (AI) in Tokyo, underlining the growing importance of these sunrise sectors in strengthening India-Japan economic and technological cooperation.

Shri Goyal highlighted that Semiconductors and AI are emerging as key areas of cooperation and constitute an important pillar of the economic security partnership envisaged by Prime Minister Shri Narendra Modi and Prime Minister Sanae Takaichi during the Annual Summit. He assured the participating industry representatives of the Government of India’s wholehearted support in deepening and expanding collaboration between India and Japan in these strategic sectors.

The Minister highlighted the rapidly expanding opportunities in India’s semiconductor sector, with domestic semiconductor demand projected to reach USD 150 billion by 2032. He outlined the Government’s comprehensive semiconductor strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. He also highlighted the Government’s commitment of USD 10 billion under Semicon India 1.0 and an additional USD 15 billion under Semicon India 2.0 to catalyse large-scale investments and build a comprehensive semiconductor ecosystem in the country.

Shri Goyal emphasised the significant potential for combining India’s vast pool of skilled and talented professionals with Japan’s advanced technology, engineering capabilities and industrial expertise. He noted that such complementarities can create new opportunities for investment, innovation, manufacturing and technology partnerships between the two countries.

The roundtable was attended by representatives of around 21 leading Japanese companies, including Tokyo Electron, Daifuku, Preferred Networks, ABEJA, MinebeaMitsumi, Tanaka Precious Metals Technologies, Fujifilm Holdings, Toray Industries, Nippon Express Holdings, Mizuho Financial Group, Kyocera Corporation, Fuji Electric, TOK, Air Water Inc., ROHM, Tomoegawa Corporation, MUFG Bank Ltd., NEC Corporation, Yamaya Electronics, ANA Trading and JETRO. The roundtable also saw participation from various Indian business chambers and business delegations.

The participating Japanese companies expressed confidence in the growing opportunities in India’s semiconductor and AI sectors and reaffirmed their commitment to Make in India, Design in India and Develop in India. The companies also briefed the Minister on their operations, capabilities and project execution in the relevant sectors.

Responding to suggestions and concerns raised by Japanese industry representatives, Shri Goyal assured that the Government of India would proactively address the issues raised. He emphasised that India is fully cognisant of the significant potential of the India-Japan partnership in these strategic sectors and will proactively engage with industry through the Embassy of India in Tokyo and the concerned Ministries and Departments in New Delhi to facilitate fruitful outcomes in a fast-tracked manner.

Earlier, Shri Goyal held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, on 25 August 2026 in Tokyo.

During the meeting, the two Ministers took stock of bilateral economic cooperation, including bilateral trade and investment, and discussed the need to accelerate the review of the Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and responsive to emerging economic opportunities.

The Ministers also discussed bilateral cooperation in new and emerging sectors, next-generation industries, manufacturing, technology and innovation. They noted the steady progress towards achieving the target of JPY 10 trillion in private investment from Japan to India, further strengthening the India-Japan Special Strategic and Global Partnership.