Commerce and Industry Minister Piyush Goyal Seeks Pharma, Shipbuilding JVs With Japanese Firms

As per ANI news reports, Commerce and Industry Minister Piyush Goyal began a four-day visit to Japan on Monday (August 24, 2026), leading a business delegation of nearly 200 members.  

The delegation includes representatives from manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare, and start-ups. 

The visit will take Goyal to Tokyo, Nagoya and Osaka. He is holding meetings with Japanese companies as India looks to increase investment and manufacturing ties with the country. 

Sumitomo Meeting Covers Energy and Mobility 

Goyal began his meetings in Tokyo with Shingo Ueno, President and CEO of Sumitomo Corporation. The two discussed the company's operations in India and areas where it could increase its involvement. 

The discussions covered energy transformation, mobility, and industrial infrastructure. Sumitomo Corporation is among the Japanese companies with which Goyal held talks during the first day of his visit. 

Pharma and Shipbuilding Joint Ventures 

India is seeking joint ventures with Japanese companies in pharmaceuticals and shipbuilding. Goyal also met Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma Co. Ltd. 

The meeting covered cooperation in the pharmaceutical sector and the possibility of expanding Meiji Seika Pharma's manufacturing and research and development operations in India. 

Mitsubishi Discusses India Operations 

Goyal later met Juro Baba, Representative Director of Mitsubishi Corporation. The discussions focused on the company's existing presence in India and possible work across mobility, energy and infrastructure. 

Mitsubishi Corporation has been present in India for more than nine decades. The talks covered areas linked to industrial activity and supply chains. 

Trade and Further Meetings 

India-Japan bilateral trade stood at $27.47 billion in FY 2025-26, according to government data. India's imports from Japan were $21.43 billion, while exports to Japan stood at $6.04 billion. 

The visit will end in Osaka with an Investors and Business Roadshow. Goyal is also scheduled to meet companies from the electronics, induFstrial, and consumer sectors. 

Read More: India Targets $100 Billion Russia Trade as EAEU FTA Talks Reach Advanced Stage! 

Conclusion 

Goyal's meetings in Japan have covered pharmaceuticals, shipbuilding, energy, mobility and infrastructure as part of his four-day business visit. 

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