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India-Japan Trade Deepens: Goyal Meets Top Business Committee Amid $25B Partnership

Commerce Minister Piyush Goyal just met with the head of the Japan-India Business Cooperation Committee. They discussed ways to strengthen the already robust trade partnership between the two nations. This comes shortly after Prime Minister Modi's visit to Japan for a major summit. The relationship has grown significantly over the last decade across defense, investment, and technology.

Key Points: Piyush Goyal Meets Japan-India Business Committee Chairman on Trade

  • Minister Goyal held talks with JIBCC head Tatsuo Yasunaga to boost economic cooperation
  • Bilateral trade hit $25.17 billion in the last fiscal year, favoring Japan
  • India exports nearly 4,000 diverse commodities, including engineering goods and pharmaceuticals
  • The meeting follows PM Modi's official visit to Japan for the 15th Annual Summit
3 min read

Piyush Goyal meets Chairman, Japan-India Business Cooperation Committee to deepen trade

Commerce Minister Piyush Goyal meets JIBCC Chairman Tatsuo Yasunaga to strengthen India-Japan trade, which reached $25.17 billion in FY25.

"Explored opportunities to further strengthen India-Japan trade ties, enhance business cooperation, and foster innovation in key sectors. - Piyush Goyal"

New Delhi, December 16

Union Minister of Commerce and Industry Piyush Goyal held discussions with Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee (JIBCC), to explore ways to further strengthen trade and economic ties between India and Japan.

In a social media post, the Commerce Minister said that he had a productive discussion with Tatsuo Yasunaga and his delegation.

Goyal stated, "Had a productive discussion with Mr. Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee (JIBCC) and his delegation. Explored opportunities to further strengthen India-Japan trade ties, enhance business cooperation, and foster innovation in key sectors. Looking forward to deepening this dynamic partnership for mutual growth and prosperity".

India and Japan share strong and steadily growing trade relations. Japan's bilateral trade with India totalled USD 25.17 billion during FY25. Of this, exports from Japan to India stood at USD 18.92 billion, while imports from India were valued at USD 6.25 billion.

As per government data, Japan's exports to India accounted for 2.06 per cent of India's total imports during FY25, while India's exports to Japan formed 0.75 per cent of India's total exports in the same period. India exported around 3,900 commodities to Japan during FY25, highlighting the diversity of trade between the two countries.

Major items exported from India to Japan include engineering goods worth USD 2.44 billion, organic and inorganic chemicals valued at USD 1.06 billion, marine products worth USD 408.45 million, electronic goods worth USD 658.45 million, gems and jewellery valued at USD 239.51 million, and drugs and pharmaceuticals worth USD 231.52 million during FY25.

On the import side, India imported around 4,000 commodities from Japan in FY25. Imports from Japan to India stood at USD 18.92 billion during the year. Key imports included nuclear reactors worth USD 3.31 billion, electrical machinery and equipment valued at USD 2.01 billion.

The recent engagement between the Commerce Minister and the JIBCC Chairman comes close on the heels of high-level political exchanges between the two countries.

At the invitation of the Prime Minister of Japan, Ishiba Shigeru, Prime Minister of India Narendra Modi paid an official working visit to Japan on August 29-30, 2025, for the 15th India-Japan Annual Summit.

During the summit, the two Prime Ministers welcomed sustained high-level exchanges, ministerial and parliamentary engagements, reflecting the depth of trust and strength of the bilateral relationship.

Over the past decade, the India-Japan partnership has expanded significantly across areas such as security, defence, trade, investment, commerce, science and technology, skills and mobility, and cultural and people-to-people ties.

- ANI

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Reader Comments

S
Sarah B
The trade deficit is quite significant though, isn't it? We import nearly $19 billion from Japan but export only about $6 billion. While cooperation is good, we need to focus on increasing our exports. Maybe more market access for our pharmaceuticals and marine products?
P
Priya S
Japan's technology and India's talent pool are a perfect match. Hope these talks lead to more joint ventures and skill development programs. The diversity of exports (3900 commodities!) is impressive. Bas ab quality maintain karni hai aur 'Made in India' ka brand banaana hai.
R
Rohit P
Good step. Japan has been a reliable partner. Remember the bullet train project? Such infrastructure partnerships are key. Hope they also discuss easier visas for Indian professionals and students. That would truly strengthen people-to-people ties.
K
Karthik V
While the engagement is positive, I hope there is transparency in these deals. The import of nuclear reactors is a major point. We need to ensure such collaborations have clear terms that prioritize our national interest and safety standards. Productive discussion is one thing, tangible, fair outcomes are another.
M
Meera T
It's heartening to see the partnership expanding beyond just trade to include science, tech, and culture. The annual summits show a long-term commitment. As a young professional, I look forward to more opportunities in Japanese companies operating in India. 🚀

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