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Union Commerce and Industry Minister Piyush Goyal on Thursday invited Japanese companies, particularly from the Kansai region, to invest in India's booming semiconductor ecosystem, as he addressed an Investors and Business Roadshow here.
Goyal said India's first Semiconductor Mission had seeded USD 10 billion, which, combined with state government support, drew in USD 20 billion of investment into the sector. Building on this, the government has now launched Semiconductor India Mission 2.0 with a USD 15 billion outlay. Together with matching state incentives, the government expects this to mobilise USD 50 billion in fresh investment. "We are ready to fund much more because we see the growing demand for semiconductors in India," Goyal said, citing projections that India's annual semiconductor consumption will touch USD 150 billion per year within five years a market he described as a major opportunity to "innovate in India, make in India." The minister also flagged a people-mobility initiative, noting that Prime Minister Takaichi had signalled Japan's willingness to welcome 300,000 Indians across various sectors to support its economy. Goyal proposed partnerships with Kansai region companies to train these workers in Japanese work ethics, culture and language before they take up roles in Japan. He urged Kansai industry leaders to visit India, invest, and deepen engagement through joint exhibitions, sectoral dialogues, and exchange seminars. Goyal identified food processing as another area ripe for collaboration, saying India could learn from Japanese standards to improve the quality of processed foods, while Japanese firms could tap India both as a market and a technology partner. On the maritime front, he pointed to India's nearly 250,000 seafarers currently serving on ships worldwide. Following talks with the Mediterranean Shipping Company (MSC), which has agreed to set up a major seafarer training academy in Mumbai, Goyal called for similar partnerships with Japanese shipping companies and training institutes. He said MSC alone had indicated capacity to absorb workers at a scale reflecting massive global demand for Indian seafarers, whom he described as "hardworking," "skilled," and "talented." Goyal said such collaborations spanning semiconductors, human resources, food processing, and shipping represented "significant opportunities" for Japanese companies to participate in India's growth story in the years ahead. (ANI)
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