Tokyo, Aug 2026 : India is targeting a $30 trillion economy by 2047 and has demonstrated considerable resilience despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal said on Tuesday as he met senior executives of leading Japanese financial and investment institutions in Tokyo.
Goyal highlighted India’s economic performance, noting that the country recorded 7.7 per cent growth last year despite challenges in the global economy. He said India’s strong fundamentals and expanding opportunities make it an increasingly attractive destination for long-term international investment.
The discussions focused on strengthening long-term capital flows between India and Japan, deepening investment partnerships and increasing Japanese participation in India’s economic growth. Senior representatives from MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life participated in the meeting.
Goyal outlined several factors supporting India’s sustained economic expansion, including the strength of its banking sector, robust capital adequacy, declining levels of non-performing assets, a rapidly expanding middle class and rising disposable incomes.
He also pointed to significant opportunities for Japanese investors in emerging and high-growth sectors such as semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure.
According to Goyal, India’s rapidly expanding renewable energy capacity and its nationwide power grid provide a strong foundation for energy-intensive industries, particularly data centres and other digital infrastructure. He also highlighted the India Semiconductor Mission, which is creating opportunities across semiconductor manufacturing, technology and related supply chains.
The Minister reiterated that India considers Japan a trusted and strategic partner in its ambition to emerge as a global manufacturing, technology and investment hub. He emphasised India’s commitment to protecting intellectual property, developing high-quality talent, pursuing policy reforms and creating an increasingly business-friendly environment.
Japanese financial institutions participating in the meeting also outlined their expanding engagement with the Indian economy.
MUFG highlighted its investment of approximately $4 billion in Shriram Finance, along with growing interests in renewable energy and hydrogen-related opportunities. The Development Bank of Japan outlined its dedicated India strategy and said it was exploring opportunities in property development, venture capital and other areas involving long-term investment.
Mizuho highlighted improving profitability among Japanese companies operating in India and pointed to the expansion of its own operations in the country, including its Global Capability Centre in Pune.
Morgan Stanley described India as one of its most important locations globally. The institution has more than 19,000 employees in India and has increasingly expanded its operations into higher-value capital markets and financial services activities.
Nomura highlighted its long-standing presence in India and its role in connecting Japanese businesses and global industries with opportunities in the Indian market. It also pointed to its technology capabilities in areas including artificial intelligence and cybersecurity.
Nippon Life emphasised the importance of long-term “patient capital” and highlighted the strong returns generated by its Indian operations.
The meeting also examined the potential of GIFT City in Gujarat as a gateway for international capital entering India. The financial hub could play a greater role in facilitating cross-border investment and strengthening financial linkages between India and Japan.
The discussions come against the backdrop of the India-Japan objective of mobilising 10 trillion yen in Japanese private investment into India over the next decade.
Goyal’s engagement with Japanese investors underlines New Delhi’s efforts to attract long-term foreign capital as India seeks to expand its manufacturing and technology capabilities, strengthen infrastructure and accelerate its transformation into a major global economic and investment hub.
