Piyush Goyal: To increase commerce talks with the chairman of the Japan-India Business Cooperation Committee
Piyush Goyal: To discuss how to improve trade and economic relations between India and Japan, Union Minister of Commerce and Industry Piyush Goyal met with Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee (JIBCC).
The Commerce Minister claimed to have had a fruitful conversation with Tatsuo Yasunaga and his group in a social media post.
The Japan-India Business Cooperation Committee (JIBCC) Chairman, Mr. Tatsuo Yasunaga, and his delegation had a fruitful conversation, Goyal said. investigated ways to improve corporate collaboration, promote innovation in important areas, and fortify commercial relations between India and Japan. eager to strengthen this vibrant alliance for our shared development and prosperity.
Japan and India have robust and continuously expanding commercial ties. In FY25, Japan’s bilateral trade with India reached USD 25.17 billion. Japan’s exports to India were USD 18.92 billion, while India’s imports came to USD 6.25 billion.
According to official figures, India’s exports to Japan made up 0.75 percent of its overall exports during FY25, while Japan’s exports to India made up 2.06 percent of India’s total imports. The variety of commerce between Japan and India is shown by the approximately 3,900 items that India shipped to Japan in FY25.
During FY25, India exported USD 2.44 billion worth of engineering goods, USD 1.06 billion worth of organic and inorganic chemicals, USD 408.45 million worth of marine products, USD 658.45 million worth of electronic goods, USD 239.51 million worth of gems and jewelry, and USD 231.52 million worth of drugs and pharmaceuticals.
In terms of imports, India brought in over 4,000 goods from Japan in FY25. During the year, Japan’s imports to India were USD 18.92 billion. Nuclear reactors valued at USD 3.31 billion and electrical gear and equipment valued at USD 2.01 billion were among the major imports.
Following high-level political discussions between the two nations, the Commerce Minister and the Chairman of the JIBCC recently met.
On August 29-30, 2025, Prime Minister Narendra Modi of India made an official working visit to Japan for the 15th India-Japan Annual Summit at the invitation of Japanese Prime Minister Ishiba Shigeru.
The two prime ministers encouraged long-term high-level interactions, including ministerial and parliamentary engagements, throughout the summit, demonstrating the strength and depth of their bilateral relationship.
In sectors including security, defense, trade, investment, business, science and technology, skills and mobility, and cultural and interpersonal links, the India-Japan collaboration has grown dramatically during the last ten years.