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In a defining step forward for trade and economic partnership, the India–New Zealand Free Trade Agreement, is going to enter into force on 20^th October 2026. The FTA was signed on 27th April 2026 at Bharat Mandapam, New Delhi, by Union Minister of Commerce and Industry Shri Piyush Goyal and New Zealand’s Minister for Trade and Investment Hon. Todd McClay.

Today, the Union Minister of Commerce and Industry Shri Piyush Goyal and New Zealand’s Minister for Trade and Investment Hon. Todd McClay spoke via virtual conference and announced the date for entering into force of the agreement following the completion of internal processes in both countries. The legislation was passed by the New Zealand Parliament on 16^th September, 2026.

Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi, India and New Zealand have continued to deepen and expand their engagement. The visit of Hon’ble Prime Minister Shri Narendra Modi Ji to New Zealand in July 2026, the first visit by an Indian Prime Minister to New Zealand in four decades, provided further momentum to the bilateral relationship and emphasised the importance of the early implementation of the India-New Zealand FTA. The visit also marked an important elevation in the relationship, with India and New Zealand announcing a Strategic Partnership and endorsing the India-New Zealand Strategic Partnership: Roadmap to 2030 as a shared framework to guide cooperation over the next four years including an aspirational goal of doubling bilateral two-way trade in goods and services to NZ$7 billion (approximately ₹35,000 crore) by 2030. Operationalisation of the FTA will serve as a key enabler for translating the ambitions of the Strategic Partnership: Roadmap to 2030 into tangible economic outcomes.

Highlighting the significance of the milestone, the Hon’ble Commerce & Industry Minister Shri Piyush Goyal said “ The India-New Zealand FTA would provide fresh momentum to the bilateral partnership, create greater synergies between the two economies, enable economies of scale and contribute to enhancing overall competitiveness”. Emphasising the symbolism of the chosen date, he said, “We have chosen the auspicious day Dussshera- Vijay Dashmi for the entry into force of the India-New Zealand FTA. I am confident that the entry into force will overcome all hurdles that stood between our trade, technology and investment relationship, and will ensure prosperity for people of both sides”.

Hon. Todd McClay, Minister for Trade and Investment, noted that at a time of uncertainty in trade and rising tariffs, India New Zealand FTA gives confidence.  With hard work, we have delivered one of the highest quality agreements concluded in nine months, which will provide tangible benefits to businesses and stakeholders on both sides. He highlighted that the Agreement is a great foundation for both Governments to cooperate in greater areas, be it people-to-people cooperation, culture, sports, business or investment and we will work together to address challenges faced by businesses to create greater employment opportunities on both sides.

From the entry into force, every single tariff line covering 100% of India’s exports to New Zealand becomes duty-free, offering Indian industry a level playing field that puts it on par with New Zealand’s other trading partners. Sectors that power livelihoods across the country – textiles and apparel, leather and footwear, gems and jewellery, engineering goods and processed foods – stand to gain immediately as New Zealand’s peak tariffs of up to 10% are eliminated. Indian manufacturers will also benefit from tariff-free access to critical inputs such as wooden logs, coking coal and metal scrap, sharpening their competitive edge in global markets.

At the same time, the Government has safeguarded the interests of Indian farmers by keeping sensitive products such as dairy, animal meat (except sheep), key agricultural commodities, sugar and edible oils excluded from tariff concessions. A calibrated market access has been structured for New Zealand’s apples, kiwifruit and Manuka honey through Tariff Rate Quotas with Minimum Import Price and seasonal import windows, alongside safeguards to protect domestic farmers. The Agreement establishes an Agriculture Productivity Partnership to strengthen cooperation in agriculture, with dedicated Action Plans for kiwifruit, apples and honey aimed at improving productivity, quality and farmer incomes in India. Centres of Excellence will be established for orchard management, post-harvest practices, supply chains, food safety and sustainable beekeeping, facilitating the exchange of knowledge, technology and capacity. A Joint Agriculture Productivity Council will monitor that the market access is complemented by cooperation activities by New Zealand under Agriculture Productivity Partnership.

The FTA also sets the stage for deeper investment gains for India, with New Zealand’s commitment to facilitate USD 20 billion in investment into India. This investment by New Zealand will benefit Indian agriculture, manufacturing, infrastructure and start-ups.

For India’s rapidly growing services sector, the Agreement creates a stronger platform for Indian companies and professionals to access the New Zealand market and expand their international footprint spanning roughly 118 sectors including IT, professional services, audio-visual, construction and tourism, with Most-Favoured Nation treatment locked in across about 139 sub-sectors, mobility opportunity through a dedicated quota of 5,000 Temporary Employment Entry visas for skilled Indians and 1,000 Working Holiday visas each year for young Indians. The agreement also provides uncapped student mobility with post-study work rights of up to three years for STEM graduates and four years for doctoral scholars.

India’s pharmaceutical and medical device exporters gain a long-awaited edge as New Zealand begins accepting inspection approvals from globally trusted regulators such as the US FDA, EMA, UK MHRA and Health Canada, cutting long waiting time and speeding up market entry.

With bilateral merchandise trade already at around USD 1.1 billion in 2025-26, the entry into force of the India-New Zealand FTA is set to give a decisive push to two-way trade, investment and job creation in the years ahead. Anchored in the vision of Viksit Bharat @2047, the Agreement stands as another testament to India’s growing network of partnerships with developed economies – one that places farmers, women, youth, artisans and MSMEs at the very heart of its gains.

Link for India-New Zealand Factsheet https://www.commerce.gov.in/files/2026-04/final_0.pdf

Link for FAQs  https://www.commerce.gov.in/files/2026-04/FAQs%20-%20India-New%20Zealand%20FTA.pdf

Link for India New Zealand FTA Signing – https://www.pib.gov.in/PressReleasePage.aspx?PRID=2255914&reg=3&lang=1

The Indian delegation led by Additional Secretary, Department of Commerce, Shri Nitin Kumar Yadav, participated in the 14th East Asia Summit Economic Ministers’ Meeting (EAS-EMM) and the 23rd ASEAN-India Economic Ministers Consultation held in Manila, Philippines.

Economic Ministers or their representatives from all 11 ASEAN countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste and Vietnam — participated in the meetings along with EAS partners, including India, Australia, China, Japan, New Zealand, Korea, Russia and the United States.

The meetings facilitated an exchange of perspectives on prevailing regional and global economic developments. The ASEAN Secretariat provided a briefing on the regional and global economic outlook for 2027, including the anticipated implications for trade and investment flows.

The Economic Research Institute for ASEAN and East Asia (ERIA) also presented its paper, “Powering the EAS Region’s Next Wave of Growth: An Integrated Approach to Energy Security and Industrial Clusters.” The paper outlined an integrated approach to energy security and industrial clusters, bringing together energy infrastructure, digital and industrial demand, and coherent trade and investment policies.

During the ASEAN-India Economic Ministers Consultation, India highlighted its continued commitment to fostering strong trade partnerships and ensuring that regional trade agreements are mutually beneficial. The discussions placed particular focus on the ongoing review of the ASEAN-India Trade in Goods Agreement (AITIGA), which is aimed at facilitating enhanced trade flows and addressing existing trade asymmetries.

In 2025–26, bilateral trade between India and ASEAN reached USD 128.38 billion, with ASEAN accounting for 10.55 per cent of India’s total global trade, underscoring the importance of the partnership.

India reiterated its commitment to ensuring that the outcome of the AITIGA review is mutually beneficial and makes the agreement balanced, more effective, user-friendly and trade facilitative for businesses.

On the sidelines of the meetings, the Indian delegation interacted with Indian businesses operating in the Philippines on 22 September 2026 and discussed the issues faced by them while exporting commodities and services. The delegation also participated in the ASEAN-India Business Forum 2026, organised on 23 September 2026.

India is the world’s best location for setting up data centres, said Union Minister of Commerce & Industry, Shri Piyush Goyal, at the CEO Roundtable on “Ease of Doing Business (EoDB) for Scaling India’s Data Centre Ecosystem” at Vanijya Bhawan, New Delhi. While Chairing the meeting the Minister said the roundtable provided an engaging and fruitful platform for discussions with stakeholders from the data centre industry on further promoting the sector and enhancing ease of doing business in India.

Shri Goyal expressed confidence in India’s growth prospects amid global uncertainty and volatility and highlighted the country’s 7.8% growth in Q1. He complimented the people of India and Prime Minister Shri Narendra Modi for his decisive leadership and for instilling confidence among every Indian to contribute towards Amrit Kaal and the vision of Viksit Bharat 2047.

The Minister highlighted the potential of the data centre and semiconductor industries, India’s growing presence in AI and its expanding manufacturing base for global quality products, noting that these sectors would power India’s growth in the coming years and contribute towards achieving a USD 30 trillion economy by 2047. He said the interaction with stakeholders was marked by positivity and that discussions between different Departments of the Government of India and States had already helped resolve several issues. He said it was satisfying to see the industry geared up, with investments of around USD 200 billion potentially coming into the data centre industry. Shri Goyal said the meeting provided valuable insights and ideas on how India could become the data centre of the world.

The roundtable was convened as a follow-up to the inaugural CEO Roundtable to further strengthen the enabling ecosystem for the rapid and sustainable expansion of India’s data centre sector. Discussions focused on Ease of Doing Business and faster deployment of data centre infrastructure, particularly in the areas of power, land, regulatory and fiscal issues.

The discussions highlighted the rapidly increasing demand arising from cloud and Artificial Intelligence (AI) workloads. Hyperscalers accounted for more than 80 per cent of data centre absorption in the first half of 2026, underscoring India’s emergence as an AI infrastructure destination. The Government expects investments in the data centre sector to reach around USD 200 billion, reflecting the scale of the opportunity created by India’s rapidly growing digital economy and AI ecosystem.

Stakeholders discussed measures to ensure adequate and reliable power availability, including cluster-based transmission and substation planning, Day-1 sanctioned load, dual power feeders and facilitation of renewable energy procurement across State boundaries. The need for DC-ready land banks and pre-identified power-ready parcels was also highlighted.

The roundtable also reviewed regulatory measures aimed at reducing project timelines and improving investment certainty, including streamlined single-window approvals and appropriate building regulations for data centres.

The discussions noted significant progress since the previous roundtable. The National Building Code 2026 now specifically recognises data centres under Group E, with a dedicated Annex on requirements for data centres, including fire-risk assessment and data-centre-specific performance indicators.

The roundtable brought together representatives from the Central and State Governments, CEOs and senior representatives of global hyperscalers, data centre developers and operators, investors, infrastructure providers and other key stakeholders.

Senior representatives from the Governments of Andhra Pradesh, Gujarat, Haryana, Karnataka, Maharashtra, Tamil Nadu, Telangana and Uttar Pradesh, along with representatives from around 46 data centre companies, participated in the roundtable.

The dialogue will serve as a foundation for actionable, time-bound and high-impact reforms aimed at accelerating investment and innovation, strengthening India’s digital infrastructure and positioning the country as a trusted global data centre hub.

Addressing the 66th Annual Session of the Automotive Component Manufacturers Association (ACMA) in New Delhi, Union Minister of Commerce & Industry Shri Piyush Goyal today called upon the auto component industry to transform local businesses into global businesses, expand manufacturing footprints across developed countries, strengthen supply-chain resilience and move up the value chain as India seeks to deepen its integration with global markets.

Shri Goyal said the industry’s international trade was nearly USD 50 billion, evenly divided between imports and exports. He said business prospers when it looks globally and imports can also play an important role in the economic progress of a country, while clarifying that this should not be taken as an encouragement to increase imports.

He said there had been a commitment to widen the gap between imports and exports, but this had not yet started, and called for much greater international investment and international business emerging from ACMA and its membership in the years ahead.

The Minister said the industry had benefited from collaborations over the years and had established the ability to produce quality goods in India at globally competitive price points. He called upon the industry to now expand its manufacturing footprint across the world and establish a presence in developed countries.

Shri Goyal highlighted India’s growing market access through nine trade agreements finalised in the last four to five years under the leadership of Hon’ble Prime Minister Shri Narendra Modi. He said these agreements covered 38 developed countries, collectively representing a GDP of USD 60 trillion. He said the Free Trade Agreements concluded prior to 2014 collectively accounted for a GDP of USD 10 trillion at today’s value, while the nine agreements concluded under the present Government in the last four and a half years provide two-way market access to economies representing a USD 60 trillion GDP.

He said these agreements covered prosperous countries with high GDPs and high per capita GDPs, offering less competition and greater complementarity with Indian industry. Shri Goyal also acknowledged ACMA’s role in India’s Free Trade Agreement negotiations, saying that the organisation had consistently sought zero-duty access for the Indian auto component sector while also seeking reciprocal opening of the Indian market. He said the industry was capable of taking on the best in the world and was ready to meet global competition.

Referring to the theme of the session, “Beyond Resilience, managing uncertainty to creating new avenues, deeper supply chains”, Shri Goyal said it was particularly relevant in a world marked by uncertainties, challenges and considerable churn.

The Minister said that amid global turmoil, India had continued to stay the course and remained the fastest-growing among the large economies of the world. “The naysayers can say what they want, but 7.8% growth is a reality,” he said.

Highlighting the growth across sectors, Shri Goyal pointed out that ACMA was growing at a scorching double-digit rate and the auto sector was growing at a high double-digit rate. He said five million passenger cars were expected to be sold this year. The Minister said the cars were being bought and were not merely being stocked. He also referred to electric vehicles, noting that some electric vehicles now had a six-month waiting period.

He pointed out that the steel sector was also growing at a scorching pace and India was importing more steel than it exported because domestic demand was so high. He said the auto component industry was contributing significantly to this demand.

Shri Goyal highlighted various Government programmes aimed at strengthening industrial capacity and supply-chain resilience. He said the support provided to the auto component industry to achieve scale and to speciality steel manufacturing to produce in India the steels required by the sector directly related to the industry.

He also highlighted the relevance of the technical textile PLI for the auto component industry, given its requirement for technical textiles, and said support to the semiconductor industry was intended to bring resilience to auto component supply chains.

The Minister said the Government was creating new industrial parks, with 20 smart cities and industrial cities already underway. He invited the industry to participate in these opportunities and also invited countries to consider establishing enclaves in these parks. “Maybe we should have one of these parks dedicated to a US-India partnership. Maybe we can have two or three, five parks, which will be for auto components only. And I can create a plug and play infrastructure to suit you,” he said.

Shri Goyal said the cycle of reforms and further reforms could only move ahead at speed with the support of industry. “We need your ideas. We need your inputs. We need your demands. We need to know what’s challenging you, what’s troubling you, how we can help you more,” he said. “We are a listening government. We want you to be talking,” he said, calling for continued dialogue between industry and Government.

Shri Goyal referred to his recent three-hour engagement with the data centre industry, comprising largely companies from the United States coming into India in a big way. He said India and the United States were trusted partners who could support each other in making everything more competitive.

Shri Goyal said India would soon have a GCC and Israel FTA once the situation stabilised there. He said India would also have FTAs with other countries around the world to secure greater access to critical minerals, which are needed for resilient supply chains.

He highlighted that the United States and India were working together as partners in a critical mineral partnership. He also referred to the Pax Sillica initiative launched by the United States, under which like-minded, democratic, well-meaning and fair-play countries could work together to ensure that no single geography could weaponise trade.

Shri Goyal said these developments would help the auto component industry become a global player as it moved towards its USD 500 billion industry target.

Before concluding, Shri Goyal outlined specific priorities for the industry. He called upon the industry to convert local businesses into global businesses and, for products where greater supply-chain resilience was still required, establish an active indigenisation programme to insulate and protect itself from future black swan events.

He called upon the industry to move up the value chain and begin delivering integrated, very high-value solutions, including products that are designed, built and supplied to the world at top quality.

Shri Goyal also called for greater focus on safety. He said the industry should not leave safety concerns entirely to the Government.

The Minister said technology needed to play a greater role in the auto component sector, including artificial intelligence for better quality control and better assessment of customer needs. He also referred to customised vehicles, which were gaining increasing traction in the United States and Europe, and called for better safety features.

On vehicle scrappage Shri Goyal said that the industry and Government needed to make the scrappage of old vehicles a profitable and valuable proposition for new vehicle buyers.

He emphasised that this could only be achieved through a shared effort by the Government and the private sector. The Minister said the Government had attempted to provide value and incentives from its side and called upon industry to come forward and offer fair value when vehicles were scrapped, so that a greater market could be created for new-age vehicles.

Addressing the event U.S. Ambassador to the Republic of India H.E. Sergio Gor highlighted the deepening U.S.-India cooperation in the automotive sector and said that the relationship stands at a “historic high point”. He said the two countries are “co-designing the future of mobility together” and noted India’s auto component industry as a reliable and increasingly sophisticated partner in strengthening supply chain resilience. He said both governments are working towards a fair, reciprocal and mutually beneficial trade relationship and highlighted the progress made, including the trade understanding reached between the two governments. He also said that Union Minister for Commerce and Industry Shri Piyush Goyal will travel to the United States at the end of the month as the United States hosts the G20 talks.

Mr. Gor highlighted cooperation across pharmaceuticals, military sales and exercises, IT, data centres and space, and described the Pax Silica Declaration as a landmark step towards a pro-innovation regulatory framework, noting that India was among the first countries invited to join. He highlighted the presence of U.S. companies in India’s automotive ecosystem and Indian companies in the United States, including Bharat Forge, Sundaram Clayton and Mahindra. He invited Indian auto component manufacturers to explore investment in the United States through greenfield assembly, R&D centres and distribution networks, and noted that the U.S. Embassy in India came first among embassies globally, with $24 billion in new investment into the United States.

In his address, Trade Commissioner for South Asia and British Deputy High Commissioner for Western India Harjinder Kang highlighted the strengthening India-UK relationship and said automotive and future mobility are central to the UK’s advanced manufacturing capabilities. He highlighted the India-UK Vision 2035, the UK’s modern industrial strategy and the India-UK CETA, which came into force on 15 July 2026. He said 99% of UK tariff lines and 90% of Indian tariff lines have been reduced to zero or very low duties, with streamlined customs and border processes to facilitate trade and business.

He said CETA will deepen supply chains and enable joint ventures and partnerships, with automotive component manufacturers gaining tariff-free access to each other’s markets. He highlighted the UK’s strengths in advanced engineering, innovation and zero-emission vehicle technologies, including electric motors, batteries, hydrogen solutions, lightweight composites and software-defined vehicle systems.

Union Minister of Commerce and Industry Shri Piyush Goyal addressed the Indian community in Tokyo, Japan, today and appreciated the contribution of the Indian diaspora in strengthening India-Japan ties. He described the nearly 60,000-strong Indian community in Japan as “Brand Ambassadors of India”, noting that their conduct, professionalism and contribution across different fields serve as an important introduction to India among the Japanese people.

Shri Goyal said that the energy, enthusiasm and confidence witnessed during his visit to Japan reflected the growing strength of India-Japan relations. He expressed gratitude to the Indian community for “opening the doors of Japan” for India and for building goodwill through their work and engagement with Japanese society.

He noted that more than 200 representatives from Indian industry and business were part of the delegation accompanying him during his visit to Japan. Describing it as the largest business delegation he had led to Japan, he said the strong participation reflected substantial interest on both sides in expanding business-to-business engagement and investment opportunities.

The Minister highlighted the transformation in India’s global standing over the past decade. He said that India’s growth, the country’s rising global profile and the leadership of Prime Minister Shri Narendra Modi have contributed to greater confidence and respect for India and its citizens across the world.

Shri Goyal said that India’s vision of becoming a developed nation by 2047 is founded on self-reliance, self-respect and self-confidence. He emphasised that this transformation is a collective commitment of 140 crore Indians, including the Indian diaspora across the world.

Highlighting India’s demographic advantage, Shri Goyal said that India’s young population, with an average age of around 29 years, represents a significant strength. He noted that India’s hardworking, aspirational and technology-savvy youth are increasingly creating opportunities rather than merely seeking employment.

The Minister underlined the growing attractiveness of India as an investment and business destination. He said that India’s expanding economy, young population, startups, technological capabilities and entrepreneurial ecosystem are creating significant opportunities for global businesses and investors.

Shri Goyal also highlighted India’s expanding network of trade agreements. He said that India has made significant progress in concluding trade agreements with several countries in recent years, reflecting the growing confidence of global partners in the Indian economy and its future potential.

The Minister said that discussions with Japanese companies, including those working in advanced technologies, semiconductors and artificial intelligence, demonstrated the growing interest in India. He noted that Japanese businesses are keen to expand their engagement with India and are looking at opportunities across emerging and high-technology sectors.

Shri Goyal also highlighted the opportunities for Indian professionals in Japan. He said that there is significant demand for skilled workers across sectors, including caregivers, nurses, welders, carpenters, electricians, plumbers, drivers, engineers, artificial intelligence professionals, chartered accountants and seafarers. He encouraged members of the Indian community to understand local requirements, learn the Japanese language and culture, and contribute to strengthening people-to-people and economic ties between the two countries.

The Minister urged the Indian diaspora to retain a strong connection with India while respecting the laws, regulations and way of life of Japan, which is their “Karmabhoomi”. He suggested that members of the community could also contribute to the development of their hometowns and villages in India through initiatives such as digital education, online training and knowledge-sharing.

Shri Goyal highlighted the important contribution of the Indian diaspora to India’s economy through remittances. He said that remittances support families, generate economic activity and contribute to savings and investment, thereby making the diaspora an important partner in India’s development journey.

He also emphasised the Government’s commitment to the welfare and safety of Indians abroad. Referring to India’s efforts to evacuate and assist citizens during crises in different parts of the world, he said that the Government remains committed to ensuring the safety and well-being of Indian citizens wherever they may be.

Recalling India’s evacuation efforts during the Ukraine conflict, Shri Goyal said that the Government had worked across countries and coordinated extensive efforts to bring Indian students and other citizens safely back to India.

The Minister also recalled the efforts made to assist Indian fishermen stranded in the region during the recent conflict in West Asia. He highlighted the role of Indian diplomatic missions, local authorities and members of the Indian diaspora in registering citizens, coordinating their movement and facilitating their safe return to India.

Shri Goyal said that these efforts demonstrate the strong bond between India and its diaspora. He reiterated that Indians living abroad remain an integral part of India’s development journey and that the Government will continue to stand with them during times of need.

“Never forget India, and neither will we ever forget you,” Shri Goyal said, while expressing his appreciation for the contribution of the Indian community in Japan and across the world.

Union Minister of Commerce and Industry, Shri Piyush Goyal, today held discussions in Tokyo with senior leaders of leading Japanese financial and investment institutions on strengthening long-term capital flows, deepening investment partnerships and expanding Japanese participation in India’s growth story.

The meeting brought together senior representatives of MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life. The discussions focused on India’s economic outlook, emerging investment opportunities and measures to further facilitate Japanese institutional investment in India.

Shri Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a USD 30 trillion economy by 2047. He underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth.

The Minister highlighted significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure. He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology.

Highlighting the strategic and comprehensive nature of India-Japan relations, Shri Goyal said India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub. He emphasised India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment.

The Japanese financial institutions shared their growing engagement with India and expressed strong confidence in the country’s long-term growth prospects. MUFG highlighted its investment of around USD 4 billion in Shriram Finance and its expanding interests in areas including renewable energy and hydrogen. DBJ outlined its dedicated India strategy and growing interest in property development, venture capital and other long-term investment opportunities.

Mizuho highlighted the improving profitability of Japanese companies operating in India and the expansion of its India operations, including its Global Capability Centre in Pune. Morgan Stanley described India as one of its most important global locations, with more than 19,000 employees, and highlighted the evolution of its India operations towards higher-value capital markets and financial services activities.

Nomura highlighted its long-standing presence in India and its role in connecting Japanese companies and global industries with Indian opportunities, including through technology capabilities in areas such as artificial intelligence and cybersecurity. Nippon Life emphasised the importance of long-term “patient capital” and noted the strong returns generated by its Indian operations.

The discussions also covered measures to further facilitate the flow of Japanese institutional capital into India. Participants highlighted the importance of simplifying processes for profit repatriation, improving access to Indian capital markets and ensuring greater regulatory predictability for long-term investors.

The Japanese institutions reiterated that their long-term strategic outlook on India remains strongly positive, while noting that currency movements and certain regulatory and policy considerations can influence short-term investment decisions. Shri Goyal welcomed the feedback and reiterated the Government’s commitment to continuously improving the ease of doing business and creating a more seamless investment environment.

The meeting also explored the potential of GIFT City as a gateway for international capital into India and as a platform for facilitating greater cross-border investment flows between Japan and India.

Shri Goyal emphasised that India is seeking not merely capital but long-term partnerships that bring technology, innovation, manufacturing capabilities, employment and integration with global value chains. He highlighted opportunities in both new and emerging sectors and established businesses requiring modernisation and technological upgrading.

The discussions assume significance in the context of the India-Japan objective of mobilising 10 trillion yen of Japanese private investment into India over the next decade. The interaction reaffirmed the strong confidence of leading Japanese financial institutions in India’s long-term growth prospects and highlighted the considerable potential for expanding bilateral investment, technology and business linkages.

The meeting marked another important step towards deepening the India-Japan economic partnership and unlocking greater flows of long-term Japanese institutional capital into India’s next phase of growth.

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.