India-Japan ties: Piyush Goyal leads largest-ever delegation; FICCI expects semiconductor, electronics MoUs

India and Japan are looking to expand collaboration in the semiconductor and electronics sectors, with several Memorandum of Understanding (MoUs) expected to be signed during the ongoing business delegation’s visit, according to FICCI Director General Jyoti Vij on Sunday.

Union Commerce and Industry Minister Piyush Goyal is leading India’s biggest-ever business delegation to Japan, which is scheduled to visit the country from August 24 to 27.

Vij said advanced technology sectors, particularly semiconductors and electronics, offer significant scope for both countries to strengthen their capabilities and broaden cooperation. She added that the partnership would also cover conventional industries.

“High-technology areas such as semiconductors and electronics are key domains where both nations can build greater strength and expand mutual cooperation,” Vij told ANI.

According to Vij, the business mission includes more than 200 delegates and has been organised to promote stronger commercial ties between India and Japan. The delegation is scheduled to participate in at least 200 business-to-business (B2B) meetings, along with networking programmes and around 15 site visits.

“Yes, absolutely. By the time this mission concludes, you will definitely see MoU signings. Some MoUs have already been finalized, and more may emerge during and after the visit,” she mentioned.

‘Wide range of opportunities’

The four-day programme will cover Tokyo, Nagoya and Osaka and bring together representatives from sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.

Vij said visits to Japanese manufacturing units, innovation hubs and other facilities would give participating Indian businesses an opportunity to gain first-hand insights into the country’s technologies, production capabilities and innovations.

“These 15 visits will also unlock significant opportunities by providing direct insights into current innovations and technological advancements,” she said.

The delegation also comprises representatives from several Indian start-ups, who are expected to explore Japan’s innovation landscape and assess opportunities for potential partnerships in the future.

“A wide range of opportunities will definitely emerge from this,” Vij stated.

Vij said Goyal is scheduled to hold meetings with several leading CEOs and business executives over the next two days. The discussions are expected to focus on strengthening commercial ties and gaining a better understanding of the priorities and requirements of Japanese companies.

“The objective is to understand how engagement can be deepened further and to address their specific priorities and perspectives,” she further said.

The Ministry of Commerce and Industry mentioned the visit underscores the strong ambitions underpinning the two countries’ Special Strategic and Global Partnership, as India and Japan seek to substantially expand trade and investment ties.

FDI from Japan, bilateral trade

Japan is India’s fifth-largest source of foreign direct investment (FDI), contributing USD 48.14 billion between April 2000 and March 2026, which accounted for 6 per cent of India’s total FDI inflows during the period, as per PTI.

Bilateral trade rose 9.18 per cent to USD 27.47 billion in 2025-26, compared with USD 25.16 billion in 2024-25. India exported goods worth USD 6.03 billion to Japan, while imports stood at USD 21.43 billion.

The trade deficit also widened to USD 15.4 billion in 2025-26, up from USD 12.66 billion in the previous fiscal. It stood at USD 12.53 billion in 2023-24 and USD 11 billion in 2022-23.