Tokyo: Union Minister for Commerce and Industry Piyush Goyal held high-level discussions with senior executives of leading Japanese financial and investment institutions in Tokyo, focusing on ways to expand long-term capital flows, deepen investment partnerships and increase Japanese participation in India’s growth journey.
The meeting brought together representatives from major institutions including MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life. The discussions covered India’s economic outlook, emerging investment opportunities and measures to make it easier for Japanese institutional investors to participate in India’s expanding economy.
India targets USD 30 trillion economy by 2047
Goyal highlighted the resilience of the Indian economy, noting that the country registered 7.7 per cent growth last year despite continuing global uncertainties. He said India is working towards its long-term ambition of becoming a USD 30 trillion economy by 2047.
The Minister pointed to India’s strong banking system, healthy capital adequacy, relatively low non-performing assets, expanding middle class and rising disposable incomes as key foundations supporting sustained economic growth.
He also outlined investment opportunities emerging in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure.
India’s rapidly expanding renewable-energy capacity and nationwide power grid, he noted, are creating the infrastructure needed for energy-intensive industries such as data centres and advanced digital services. The India Semiconductor Mission is similarly opening new avenues for Japanese investment across semiconductor manufacturing and associated technologies.
Japanese institutions show confidence in India
The Japanese financial institutions outlined their expanding engagement with India and reiterated their long-term confidence in the country’s economic prospects.
MUFG highlighted its investment of around USD 4 billion in Shriram Finance, while pointing to growing interests in areas such as renewable energy and hydrogen.
Development Bank of Japan (DBJ) discussed its dedicated India strategy and identified opportunities in property development, venture capital and other long-term investments.
Mizuho pointed to improving profitability among Japanese companies operating in India and highlighted the expansion of its own operations, including its Global Capability Centre in Pune.
Morgan Stanley described India as one of its most important global locations, with a workforce of more than 19,000 employees, and highlighted the evolution of its Indian operations towards higher-value activities in capital markets and financial services.
Nomura, which has maintained a long-standing presence in India, highlighted its role in connecting Japanese businesses and global industries with Indian opportunities, including through technology capabilities in areas such as AI and cybersecurity.
Nippon Life stressed the importance of long-term “patient capital” and highlighted the strong returns generated through its Indian operations.
Focus on easing investment flows
The discussions also examined practical measures that could further facilitate the movement of Japanese institutional capital into India.
Participants highlighted the need to simplify profit-repatriation procedures, improve access to Indian capital markets and provide greater regulatory predictability for long-term investors.
The Japanese institutions maintained a positive strategic outlook on India while noting that currency fluctuations and certain regulatory and policy considerations can influence short-term investment decisions.
Goyal welcomed the feedback and reiterated the Government’s commitment to continuously improving the ease of doing business and creating a more seamless environment for international investors.
GIFT City as a gateway for Japanese capital
The meeting also explored the potential of GIFT City to serve as an important gateway for international capital entering India and facilitate greater cross-border investment flows between India and Japan.
Goyal stressed that India is looking beyond conventional capital inflows and seeking long-term strategic partnerships that bring technology, innovation, manufacturing capabilities, employment and stronger integration with global value chains.
He highlighted opportunities both in emerging industries and in established sectors that are seeking modernisation, technological upgrades and greater global competitiveness.
India-Japan investment partnership
The engagement assumes added significance in the context of the India-Japan objective of mobilising 10 trillion yen in Japanese private investment into India over the next decade.
Japan remains one of India’s important economic partners, with Japanese companies and financial institutions playing a growing role in manufacturing, infrastructure, automobiles, financial services, technology, clean energy and other strategic sectors.
The Tokyo meeting reaffirmed the strong interest of leading Japanese financial institutions in India’s long-term growth story and highlighted considerable scope for expanding investment, technology, financial and business linkages.
The discussions marked another step towards strengthening the India-Japan economic partnership, with both sides seeking to unlock larger flows of patient Japanese capital and build deeper commercial ties as India enters its next phase of economic expansion.