India, Japan seek deeper startup, deep-tech cooperation; Goyal pitches $1 billion fund and capital corridor
India and Japan are formalizing a deep-tech alliance through a proposed four-pillar framework, backed by a planned $1 billion Indian fund of funds. The initiative leverages India's scaling talent and Japan's capital and manufacturing expertise to build long-term supply chain partnerships.
Commerce and Industry Minister Piyush Goyal announced that Japanese firms have already invested Rs 1 lakh crore of the 10 trillion Yen investment target in India, ahead of schedule within a decade. Goyal stated that this progress could lead to reaching the 10 trillion Yen goal in the next 3-4 years rather than the originally planned 10 years.
Japan had initially committed to investing 5 trillion Yen in India over a decade, which was achieved in just five years. In 2025, the target was raised to 10 trillion Yen. Prime Minister Narendra Modi aimed to double the number of Japanese companies operating in India to 3,000 from the current 1,500. Goyal urged Japanese firms to invest in manufacturing, services, financial services, insurance, and pension funds.
He proposed a Deep Tech Capital Corridor, a two-way innovation bridge, and Manufacturing and Technology Integration initiatives to facilitate collaboration between Indian and Japanese entities. Goyal also emphasized the establishment of Joint Startup Pitching Platforms to encourage interactions between Indian startups and Japanese corporations.
The India-Japan Startup Roundtable in Tokyo saw Goyal propose these measures to leverage Japanese technologies and investments in India.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Piyush Goyal says India open to expanding scope of Japan trade agreement economictimes.indiatimes.com
- Govt plans study to strengthen India’s deep-tech startup ecosystem livemint.com
