India’s Commerce Minister Goyal said at an economic forum in Nagoya that India welcomes expansion by small and midsize companies from the Chubu region, and referred to the potential for Japanese companies, including Toyota, to expand in India. At a press conference, he expressed a fully welcoming stance toward investment from Japan and indicated his intention to promote cooperation between the two countries.
India’s Commerce Minister Goyal spoke at an economic forum held in Nagoya, praising Japanese manufacturing as “monozukuri.” He then indicated his intention to encourage Japanese companies to enter industrial parks in India, emphasizing cooperation that would include business participation from Nagoya.
At a press conference following the forum, he said that India “welcomes investment from Japan with open arms” and disclosed a plan to expand Japanese business activity in India. Specifically, the goal is to double the number of Japanese companies operating in India from approximately 1,500 to 3,000.
Goyal also asked the Nagoya Chamber of Commerce and Industry to send a business delegation, called on small and midsize companies in the Chubu region to expand into India, and indicated an intention to strengthen economic ties between the region and Japan and India.