Piyush Goyal woos Japan's Sumitomo, Meiji Seika for India investment

Commerce Minister Piyush Goyal, on a four-day visit to Japan, met with leaders of Sumitomo, Meiji Seika Pharma, and Mitsubishi to expand investment in India's energy, mobility, pharmaceuticals, and infrastructure sectors.

Commerce and Industry Minister Piyush Goyal on Monday held talks with senior executives of leading Japanese companies, including Sumitomo Corporation, Meiji Seika Pharma and Mitsubishi Corporation, to expand investment and manufacturing partnerships in India across energy, mobility, pharmaceuticals and infrastructure.

Goyal began his four-day visit to Japan on Monday, leading a nearly 200-member business delegation aimed at strengthening economic ties between the two countries.

Engagements with Corporate Leaders

Sumitomo Corporation

Taking to his official X account, Goyal said he began his Tokyo engagements with a meeting with Shingo Ueno, President and CEO of Sumitomo Corporation, where they discussed opportunities to expand the company's engagement with India in energy transformation, mobility and industrial infrastructure.

"We discussed opportunities to deepen the company's engagement with India across energy transformation, mobility and industrial infrastructure. India's investment-led growth and expanding manufacturing ecosystem offer immense opportunities for greater collaboration, further strengthening the India-Japan economic partnership," the post reads.

Meiji Seika Pharma Co. Ltd.

Goyal also met Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma Co. Ltd., to discuss strengthening cooperation in pharmaceuticals industry.

"Met with Mr. Toshiaki Nagasato, President & Representative Director of Meiji Seika Pharma Co., Ltd. Discussed opportunities to strengthen India-Japan cooperation in the pharmaceutical sector and avenues to expand the company's manufacturing & R&D footprint in India. India's pharmaceutical ecosystem offers significant opportunities for our Japanese partners to scale & achieve long-term growth," he said.

Mitsubishi Corporation

He also held talks with Juro Baba, Representative Director of Mitsubishi Corporation, on expanding the company's presence in India across mobility, energy and infrastructure.

"Met Mr. Juro Baba, Representative Director, Mitsubishi Corporation. We discussed opportunities to build on Mitsubishi Corporation's long-standing presence in India, spanning over nine decades, and to expand collaboration across mobility, energy, and infrastructure. India remains committed to enabling partnerships that support industrial growth and resilient supply chains," the post said.

Four-Day Visit to Boost Ties

As per Ministry of Commerce, Goyal's four-day visit will cover Tokyo, Nagoya and Osaka, with representatives from multiple sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.

The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across the electronics, industrial and consumer sectors.

As per government data, Japan's bilateral trade with India stood at USD 27.47 billion during FY 2025-26. During this period, exports from Japan to India stood at USD 21.43 billion, and imports came at USD 6.04 billion. (ANI)

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