India-Japan economic ties are gaining momentum, with Uttar Pradesh seeking deeper Japanese investment and partnerships in green hydrogen, automobiles, advanced manufacturing, technology, innovation and healthcare.
The UP-Japan Investment Meet 2026 was held in New Delhi on Wednesday, August 19, with Uttar Pradesh Chief Minister Yogi Adityanath, Union Ministers Piyush Goyal, Ashwini Vaishnaw and Shivraj Singh Chouhan, and other officials attending the event.
A Japanese delegation led by Kotaro Nagasaki, Governor of Yamanashi Prefecture, is participating in the programme.
Speaking at a dinner hosted by the Uttar Pradesh government for the Japanese delegation, Goyal invited Japanese businesses to deepen their investments and partnerships in India.
He said India and Japan share a long-term partnership based on common aspirations for peace, progress and prosperity in the Indo-Pacific. He also said the participation of the Yamanashi delegation showed that the bilateral relationship was expanding beyond the national level to India’s states and regions.
Goyal said Uttar Pradesh’s large population, improving connectivity, industrial growth and skilled workforce provide a platform for Japanese technology and expertise to complement India’s young workforce and expanding market.
Uttar Pradesh is working towards its goal of becoming a $1 trillion economy under Yogi Adityanath’s leadership. The state has more than 9 million MSMEs and is the fifth-largest state exporter, while companies such as Escorts Kubota and Seiko Advance are part of its manufacturing ecosystem.
$27.5 billion trade
Goyal said India-Japan bilateral trade stood at around $27.5 billion in FY2025-26 and Japan is now India’s fifth-largest source of foreign direct investment.
More than 1,400 Japanese companies operate in India, including Suzuki, Toyota and Honda in mobility, Sony in electronics, and Hitachi and Mitsubishi in engineering.
Existing cooperation includes the Mumbai-Ahmedabad High-Speed Rail project, Japanese-assisted metro systems in Delhi, Ahmedabad, Bengaluru and Chennai, and 11 Japanese industrial townships across eight states.
Referring to the 16th India-Japan Annual Summit held in Delhi in July 2026, Goyal highlighted Japan’s target of investing 10 trillion yen in India over the next decade. He identified artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility as key areas for future investment.
UP’s investment pitch
Goyal highlighted Jewar International Airport, the Yamuna Expressway and the JICA-supported Western Dedicated Freight Corridor, along with 27 industrial clusters and ecosystems covering sectors such as defence, semiconductors and electronics.
He said India’s reforms in ease of doing business, infrastructure, digital public infrastructure, multimodal logistics and Japanese-language capabilities were helping create an environment for investment. Drawing on the Japanese philosophy of ‘Kaizen’, he described India’s reform journey as one of continuous improvement.
The cooperation agenda for the UP-Japan programme includes manufacturing, automobiles, semiconductors, green energy, digital infrastructure, skill development and tourism. Green hydrogen and advanced technologies are also among the areas identified for greater cooperation.
Japan partnership
Khanna said Uttar Pradesh views Japan as a long-term partner rather than only an investor.
“Relations between India and Japan are continuously strengthening on the basis of shared values, a common outlook and mutual priorities. The participation of a large Japanese delegation is evidence of the growing confidence of Japanese industry in Uttar Pradesh.”
He also highlighted Nivesh Mitra, the state’s single-window investment facilitation platform, as an initiative to simplify business processes and help turn investment proposals into projects.
Yogi said Uttar Pradesh wanted a long-term relationship with Japanese businesses to attract investment and create jobs. “Uttar Pradesh is committed to a long-term partnership with Japanese investors.”
The main UP-Japan Investment Meet will be held in Lucknow on August 21, with government-to-business and business-to-business sessions.
Goyal said he will visit Japan from August 24 to 27 to take forward discussions with government and industry and strengthen the Special Strategic and Global Partnership between India and Japan.
