In ten months, Japan invested Rs 1 lakh cr out of Rs 7 lakh cr targeted for 10 yrs: Goyal

Union Commerce Minister Piyush Goyal affirmed on Wednesday that Japan is India's most strategic partner, as the nations prepare to revisit their 2011 trade agreement. Goyal disclosed that India has received approximately Rs 1 lakh crore (about $14 billion) of the Rs 7 lakh crore (around $91 billion) in investments from Japan, which is slated to invest 10 trillion yen (about $137 billion) over a decade.

This investment, announced earlier, comes amid concerns over a widening trade deficit between the two countries. The trade deficit rose to $15.4 billion in the fiscal year 2025-26, up from $12.66 billion in 2024-25, and $11 billion in 2022-23. Goyal emphasized the potential for expanding the scope, scale, and extent of the partnership, stating that Japan is now among India's most strategic allies.

The commerce ministry is also assisting industries and exporters in meeting regulatory requirements, such as registering products for the European Union's REACH regulations. Additionally, Goyal appealed to various industries to share challenges they face while exporting goods to Japan, with the mission prepared to provide support across sectors.