Union Commerce and Industry Minister Piyush Goyal today said that Japan has been a key ally in India’s economic growth and is the 5th largest source of foreign investment. Addressing the India-Japan Economy and Investment Forum in New Delhi, Mr. Goyal said that foreign direct investment from Japan has exceeded 43 billion dollars between 2000 and 2024. He mentioned that India and Japan share a globally recognised strategic partnership rooted in brotherhood, democracy, culture, and economic cooperation.

Mr. Goyal also said that the Comprehensive Economic Partnership Agreement (CEPA) signed in 2011 has significantly strengthened bilateral trade, with over 1,400 Japanese companies operating in India. The minister pointed out that major infrastructure projects, such as the Mumbai-Ahmedabad high-speed rail and metro systems in Delhi, Ahmedabad, Bengaluru, and Chennai, reflect Japan’s active participation in India’s development.