The friendship between India and Japan is a long relationship rooted in strong cultural and civilizational ties with the earliest documented direct contact between India and Japan dating back to 752 A.D.

In the modern era, the two countries have sustained their strong relationship as evidenced by several high-level meetings and economic ties. During a summit, former Prime Minister of Japan, Mr. Shinzō Abe pledged to realize public and private investments worth JPY 3.5 Tn and doubling of the number of Japanese companies in India over the next five years. With the achievement of the investment target, Prime Minister Shri Narendra Modi and Prime Minister of Japan, Mr. Fumio Kishida during his first bilateral visit to India expressed their shared intention to realize JPY 5 Tn of public and private investment and financing from Japan to India in the next five years, to finance appropriate public and private projects of mutual interest.

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Canon is the market leader in DSLR camera devices and expects its revenues to reach $550 mn by 2020.

Japanese Prime Minister Shinzo Abe recently announced to invest $35 bn in India by 2020 for infrastructure development.

    • Sept 2023: Prime Minister Shri Narendra Modi held a bilateral meeting with H.E Mr. Fumio Kishida, Prime Minister of Japan on the sidelines of the G-20 Summit in New Delhi. During the meeting, the leaders acknowledged the constructive dialogue of the two countries throughout the year on their priorities for their respective G-20 and G-7 Presidencies, particularly in bringing the concerns and aspirations of the Global South to the fore. The leaders held discussions on various facets of the India-Japan bilateral partnership, including on infrastructure development, technological collaboration, investments and energy. Both leaders reaffirmed their commitment to further deepening the India-Japan Special Strategic and Global Partnership.

    • Japanese Prime Minister Fumio Kishida visited India on 21st March 2023. Japanese PM unveiled plan for a "free and open Indo-Pacific" with a focus on India's increasingly significant role in the region.

    • India and Japan signed six agreements during Japan's PM Kishida's visit to India in 2022. Three separate announcements of Japanese investments of $42 Bn, projects in Northeast India, and a clean energy partnership were also made.

    • The two countries have several institutional dialogue mechanisms, including a 2+2 Dialogue at the Foreign and Defence Secretaries level, which are held regularly, at senior official and functional levels to exchange views on bilateral issues as well as regional and international cooperation. 

    • The Government of India and Government of Japan signed a Memorandum of Cooperation in January 2021 on a Basic Framework for Partnership for Proper Operation of the System Pertaining to "Specified Skilled Worker". 

    • The Trade and Industry Ministers of India, Japan and Australia, formally launched the Supply Chain Resilience Initiative (SCRI) on 27th April 2021 to enhance the resilience of supply chains in the Indo-Pacific Region and to develop dependable sources of supply and to attract investment.

    • PM led cabinet has approved for the signing of a memorandum of understanding (MoU) between textiles committee, India, and M/s Nissenken Quality Evaluation Centre, Japan, for improving quality and testing of Indian textiles and clothing for the Japanese market and facilitate Indian exports to meet the requirements of Japanese importers.

    • On 10th of December 2019, Hon’ble Minister of Commerce and Industry, Mr. Piyush Goyal, and Hon’ble Minister of Economy, Trade and Industry (METI), Mr. Hiroshi Kajiyama, decided to launch “India-Japan Industrial Competitiveness Partnership (IJICP)” with the aim to enhance India’s industrial competitiveness.

    • A Reciprocal Provision of Supplies and Services was signed between the Armed Forces of India and the Self-Defense Forces of Japan to establish the enabling framework of the activities under the agreement. The activities include the reciprocal provision of supplies and services, and bilateral training activities, United Nations Peacekeeping Operations, Humanitarian International Relief and other mutually agreed activities.

    • Prime Minister Shri Narendra Modi participated in the third in-person Quad Leaders’ Summit in Hiroshima, Japan on 20th May 2023, along with Prime Minister Anthony Albanese of Australia, Prime Minister Fumio Kishida of Japan and President Joseph Biden of the United States of America. 

      The Leaders also released the Quad Leaders’ Vision Statement – Enduring Partners for the Indo-Pacific” which articulates their principled approach. 

    • Japan is the 5th largest investor in the Indian economy with cumulative FDI inflows of $41.91 Bn from Apr 2000 to Mar 2024. Currently, over 1,439 Japanese companies are operating in India. Key sectors include automobiles, Electronics System Design & Manufacturing (ESDM), Medical Devices, Consumer goods, Textiles, Food processing and Chemicals.

    • India’s total trade with Japan has increased to $21.96 Bn in 2022-23 with exports valued at $5.4 Bn and imports at $16.4 Bn.

    • India’s imports from Japan showed a growth of almost 160% in a span of 15 years reaching $16.4 Bn in 2022-2023 from $6.3 Bn in 2007-2008. Key imports from Japan include machinery, electrical machinery, iron and steel products, plastic materials, non-ferrous metals, and parts of motor vehicles. 

       

    • India’s exports showed a growth of 41% in a span of 15 years reaching $5.46 Bn in 2022-2023 from $3.85 Bn in 2007-2008. Key exports to Japan include petroleum products, organic chemicals; fish and crustaceans, molluscs and other aquatic invertebrates; nuclear reactors, boilers, machinery and mechanical appliances, parts thereof; vehicles other than railway or tramway rolling stock, and parts  and accessories thereof. 

    • In Mar 2023, Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 300 Bn Japanese Yen (approx. INR 18,750 Cr) for the ‘Project for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).' It is the largest amount committed through a single project loan agreement in the history of JICA, across the globe.

    • India and Japan have had strong cultural ties for centuries due to the spread of Buddhism through East Asia; Japanese Buddhism continues to play a major role in Japanese society resulting in a strong shared identity between Indian and Japanese people.

    • Japan and India have forged Asia's fastest growing relationship which is not only limited to trade but also expands to cross-cultural exchange, with over 8,100+ Japanese Nationals residing in India and over 40,700+ Indian Nationals residing in Japan as of 2022.

    • The Cultural Agreement established a system of cultural exchange between Japan and India through scientific, artistic, and educational endeavours; the agreement also created two Indian-Japanese Mixed Commissions, which govern overall cultural exchange policy.

    • The 1952 Peace Treaty between India and Japan was followed by a Cultural Agreement signed in 1956 between the two countries.

    • Initial cultural relations between India and Japan post World War II were initiated in 1949 by the Indian Prime Minister Jawaharlal Nehru, who donated an Indian elephant to the Ueno Zoo in Tokyo.

Prominent Investments

Japan in India

Maruti Suzuki

Maruti Suzuki has been in India since the last 37 years. The company in India manufactures, purchases, and sells motor vehicles, components, and ...Read more

Toyota Kirloskar Motors

Toyota Kirloskar Motor Pvt. Ltd. operates as a subsidiary of Toyota Motor Corporation, with their two manufacturing plants in Bidadi near Karnataka. ...Read more

UNIQLO

UNIQLO made its entry into India with the opening of its first store in New Delhi in October 2019. Since then, it has opened 2 more stores, one each ...Read more

Mitsubishi Group

Mitsubishi Group entered India in 1998 and now operates 14+ subsidiaries and Joint Ventures in the country. The group subsidiaries manufacture, ...Read more

Mitsui

Mitsui has a long-standing and widespread presence in India. Since the 1950s, Mitsui has progressively grown and expanded in the country to operate ...Read more

Honda

Honda entered India in 1995 and now operates five subsidiaries in the country. The company manufactures, purchases, and sells motor vehicles, ...Read more

Mizuho Corporate Bank Ltd.

In 2008 Mizuho Bank became the first Japanese lender in India. It has signed alliance agreements with government run State Bank of India for ...Read more

Hitachi

Hitachi started its business in India in the 1930's. Currently, Hitachi has approximately 30 business bases and approximately 7,500 employees in ...Read more

Sony

Set up in 1995, Sony India Private Limited is a 100% subsidiary of Sony Corporation, Japan. Sony India manufactures, sells, and exports products in ...Read more

Panasonic

Panasonic commenced its operations in India in the year 1972. In 2008, Panasonic India Pvt Ltd was formed to integrate the different Panasonic ...Read more

India in Japan

Infosys

Infosys Ltd. has been present in Japan for the past 15 years. The company has over 1,000 employees working on different client projects in the ...Read more

Tata Consultancy Services Japan

As a joint venture between Tata Consultancy Services (TCS) and Mitsubishi Corporation, TCS Japan offers services backed by global expertise and best ...Read more

HCL Technologies

HCL Technologies has been present in Japan for nearly two decades, and has helped over 40 Japanese companies through account outsourcing, ...Read more

OYO

In 2019, OYO Technology & Hospitality Company, Japan, the JV between OYO – South Asia’s largest, and the world’s fastest growing chain of hotels ...Read more

State Bank of India

India’s largest state-owned bank, State Bank of India has two branches in Japan, offering services like Deposits, Trade Finance Solutions, ...Read more

Quick Heal

Quick Heal Technologies Japan Ltd. was established in April 2012 as a wholly owned subsidiary of Quick Heal Technologies Ltd of India. Quick Heal ...Read more

Sun Pharma

Sun Pharma Japan Ltd. was established in March 2012 to develop, manufacture and sell prescription drugs in Japan and to manufacture and sell ...Read more
  • Automobile

    Automobiles

    • #1

      Largest Two-wheeler Manufacturing Country

    • #3

      Largest automotive market

    • #4

      Largest car manufacturing country

      • India aims to double its auto Industry size to INR 15 Lakh Cr by 2024
      • Employs 19 Mn people both directly and indirectly
    Visit Sector 3Investible Projects
  • Medical Devices

    Medical Devices

    • #4

      Largest market in Asia, top 20 globally 

    • $11 Bn

      Current market size 

    • 6,000+

      Types of Medical Devices in India

      • 100% FDI allowed through the Automatic Route
      • India is set to become the global hub of medical technology and devices with the market size estimated to grow up to $50 Bn by 2050
      • 2nd largest PPE Kits manufacturer with a production capacity of 10 lakh+ PPE cover per day
    Visit Sector 5Investible Projects
  • Textiles and Garments

    Textiles and Garments

    • #1

      Producer of Cotton and Jute

    • #2

      Producer of polyester, silk and fibre

    • #2

      India’s Textile Industry is the country’s second largest industry in terms of employment potential

      • 95% of the world's hand-woven fabrics are made in India
      • Indian textile and apparel exports stood at $34.4 Bn in FY 2023-24
      • Market size is projected to grow at a 10% CAGR to reach $350 Bn by 2030
    • ​​​​​

    Visit Sector 4Investible Projects
  • Electronic Systems

    Electronic Systems

    • #2

      Largest mobile phone producer in the world

    • #5

      Electronic Exports have become the 5th Largest Export Commodity Group

    • 3.5%

      India’s share in global electronics manufacturing in FY 2021-22

      • The value of export of mobile phones in FY 2022-23 (till Jan 2023) stood at $8.5 Bn
      • The exports of electronic goods for FY 2023-24 were recorded at $29.12 Bn
      • Electronics manufacturing is expected to rise to $300 Bn by 2025-26
      • 100% FDI through Automatic Route

       

    Visit Sector 11Investible Projects
  • Food Processing

    Food Processing

    • #1

       Largest producer, consumer and exporter of spices

    • #1

      Producer of Milk globally

    • #2

      Largest producer of tea and sugarcane

      • India’s food processing sector is one of the largest in the world and its output is expected to reach $535 Bn by 2025-26
      • Pradhan Mantri Kisan SAMPADA Yojana, a government scheme, was formulated for creating a modern infrastructure with efficient supply chain management from farm gate to retail outlet
      • India is known as the ‘Spice Bowl’ of the world as it produces a number of quality, rare and medicinal spices. 
    Visit Sector 76Investible Projects
  • Renewable Energy

    Renewable Energy

    • #2

      Highest installed wind capacity in Asia

    • #4

      Solar Power Capacity Globally (as per REN21 Renewables 2022 Global Status Report)

    • #4

      Largest Renewable energy capacity globally

      • The 30-GW renewable energy park at Kutch, Gujarat is billed as the largest of its kind in the world.
      • 100% FDI is allowed in all renewable sources of power
    Visit Sector 499Investible Projects

Investible Projects

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Recent Investments

Japanese financial company SMFG to invest INR 1,300 Cr in its Indian arm

Japanese financial company SMFG to invest INR 1,300 Cr in its Indian arm

Japan's Sumitomo Mitsui Financial Group (SMFG) has invested INR 1,300 Cr in its Indian arm, SMFG India. The Japanese financial company has expanded its presence to 990 branches across India.
SMFG India provides loans across 670+ towns and 70,000+ villages through 819 branches and 19,000+ employees, offering ending products to underserved retail and small business borrowers.
 

 

 

Japanese open RAN technology provider Rakuten Symphony to invest $10 Mn in AI, 6G development in India

Japanese open RAN technology provider Rakuten Symphony to invest $10 Mn in AI, 6G development in India

Rakuten Symphony plans to invest $10 Mn in India  to enhance AI capabilities and conduct research on 6G. The initiatve is based in company's Bengaluru research and development center, its second-largest tech hub outside Japan.

Suzuki Motor Corporation

Suzuki Motor will invest INR 350 Bn ($4.21 Bn) for a second car plant in Gujarat

Suzuki Motor Corporation will invest INR 35,000 Cr to set up its second manufacturing facility in Gujarat which would produce another 1 Mn units per year. As a result, the annual production capacity in Gujarat will be 2 Mn units -- 1 Mn units at Suzuki Motor Gujarat and 1 Mn units at the second new plant.

Japan's Mitsubishi Electric Corp announced to invest INR 18.91 Bn ($231.2 Mn) to setup a manufacturing facility for air-conditioners and compressors in Tamil Nadu

Japan's Mitsubishi Electric Corp announced to invest INR 18.91 Bn ($231.2 Mn) to setup a manufacturing facility for air-conditioners and compressors in Tamil Nadu

The manufacturing facility for room air-conditioners and compressors is expected to come up on a 52 acre land owned by Origins by Mahindra in Peruvoyal village in neighbouring Thiruvallur district. 

Mitsubishi Electric India said that the facility would create over 2,000 jobs of which 60% would comprise women employees. It will also implement various initiatives for carbon neutrality including minimisation of carbon dioxide emissions through enhanced thermal insulation.

Daikin India

Daikin India becomes billion-dollar company, expect to double business in next 3 years

Airconditioner maker Daikin Airconditioning India expects to become a $2-Bn company in the next three years, having crossed the milestone of $1 Bn in FY 2023.

Nissan

Nissan and Renault to invest $600 Mn to make six new models in India

Nissan Motor and Renault would invest $600 Mn to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. The move is intended to help address falling market shares for the Japanese and French companies in a market with rising global importance.

Credit Saison Company

Japan’s Credit Saison Company invests INR 540 Cr in its wholly owned Indian subsidiary

Japan’s leading financial services player Credit Saison Company invested INR 540 Cr in its wholly owned local subsidiary, Credit Saison India, signalling its intent to enhance exposure in the world’s fastest-expanding major economy.

Dixon to form JV with Japan's Rexxam to manufacture Printed Circuit Boards

Dixon to form JV with Japan's Rexxam to manufacture Printed Circuit Boards

Dixon Technologies, a contract manufacturer of electronic goods has entered into a joint venture (JV) with Japan based Rexxam Company to manufacture printed circuit boards (PCBs) for air conditioners for domestic and international markets.

Suzuki Motor Corporation

Suzuki to invest INR 10,440 Cr to step up EV production in India

Suzuki Motor Corporation, the parent company of Maruti, has confirmed an investment of INR 10,440 Cr in India to strengthen its EV game plan. As we had reported recently, Suzuki will roll out its first all-electric SUV built at its Gujarat plant by 2025. This made-in-India electric SUV will be sold as a Maruti as well as a Toyota model in India, along with international markets.

Hitachi

Johnson Controls Hitachi Air receives approval for PLI for White Goods

Johnson Controls Hitachi Air will be manufacturing cross flow fans, heat exchangers, sheet metal components with an investment of INR 100.67 Cr under the PLI scheme.

Panasonic

Panasonic India plans to invest INR 350 Cr

Under the PLI Scheme for White Goods, Panasonic India is planning to manufacture compressors and heat exchangers with a total investment of INR 350 Cr

Nidec has received approval under PLI for White Goods to manufacture motors

Nidec to invest INR 51.9 Cr

Nidec has received approval under PLI for White Goods to manufacture motors

Nipro

Nipro receives approval for PLI for Promotion of Domestic Manufacturing of Medical Devices

Nipro will be manufacturing Dialyzers with a commitment of INR 180 Cr.

Daikin has received approval under PLI for White Goods to manufacture compressors, motors, heat exchangers etc.

Daikin to invest in INR 538.7 Cr

Daikin has received approval under PLI for White Goods to manufacture compressors, motors, heat exchangers etc.

Mitsui

Mitsui to invest in Punjab Renewable Energy Systems

Japanese Mitsui & Co announced will invest INR 30 Cr in Punjab Renewable Energy Systems, a biomass supply-chain management company in India. The investment will be aimed at the expansion of the bio-energy business.

Square Enix

Digital entertainment firm JetSynthesys partners with Japanese gaming firm Square Enix

JetSynthesys has partnered with Japanese gaming firm Square Enix to develop new gaming titles in India.

They will launch their first game LudoZenith, a reimagined version of the Ludo board game, in India. They plan to launch it in other markets at a later date.

Daicel

Daicel to set up automobile airbag inflator manufacturing plant at OneHub Chennai

Daicel Corporation, headquartered in Japan, will be setting up an airbag inflator manufacturing plant in CapitaLand’s industrial township OneHub Chennai. It will be Daicel Corporation’s first airbag inflator manufacturing plant in India with a planned investment of about INR 230 crore in phase 1.

Orix in India

Japan’s Orix to acquire 20% stake in Indian renewable developer Greenko

Orix Corporation, a Japan-based financial services group has signed an agreement with renewable energy project developer Greenko Energy Holdings, to acquire approximately 20% of its shares, at a total value of around $980 mn (around INR 72.07 bn). As part of the agreement, the company will also add 873 MW of its wind energy portfolio in India into Greenko’s portfolio in exchange for the shares.

Uniqlo

Apparel retailer Uniqlo establishes online presence and launches new store

Uniqlo, the Japanese global apparel retailer, launched its online 'Shop from Home' service and opened a new physical store in Noida, NCR.

Japanese company NTT

Japan's NTT to invest $2 Bn in India to set up data centres over next 4 yrs

It will be building new campuses in neighbouring Navi Mumbai, Chennai and Noida, and also augmenting capacities at its existing facilities in the financial capital and Bengaluru.

MUFG Bank launches system development and operations unit in India

MUFG Bank has set up a system development and operations wing in India, with plans to develop it into a unit that supports the bank’s business across the Asian and Oceanian regions and elsewhere. With a capital of $4 mn, MUFG Bank holds a 99.9% stake, while its system development arm Mitsubishi UFJ Information Technology Ltd. holds the remainder.

1

Bugworks raises $9 Mn Series-A funding to develop antibiotics to fight superbugs

The Series A funding and the CARB-X award will enable Bugworks to take its drugs to clinical trials, and find new ways to fight the global threat of drug resistance.

1

SoftBank’s India investment hits $8 Bn mark

In December 2014, Masayoshi Son, founder of Japanese internet giant SoftBank Group said that his group would invest $10 Bn in the Indian market by 2024. However, within five years, since Son made that remark, SoftBank has already achieved the $8 Bn mark and is likely to surpass the committed amount much before the targeted year.

Nissan likely to set up its digital hub in Technopark, Kerala

Nissan is eyeing on Technopark in Thiruvananthapuram, Kerala to set up its R&D facility to promote innovation. The venture is expected to create about 500 high-end jobs in its first phase.

17 auto ancillary units to come up near Suzuki's Hansalpur plant

Suzuki Motor Corp is planning to set-up 17 automobile ancillary plants in Bhagapura near their Hansalpur plant in Gujarat, with an expected investment inflow of $131 mn.

Kobelco Construction Equipment breaks ground for plant expansion in Sri City

Kobelco Construction Equipment Co. starts expanding the manufacturing capacity at its facility in Sri City in Andhra Pradesh, with a planned investment of around $11.5 mn.

Ise Foods looking to invest in poultry farm and egg-processing industry

Japan's largest egg producer, Ise Foods signs MoU with the Ministry of Food Processing Industries, India to offer support in poultry, egg production and the upcoming Ise-Suzuki Mega Project in Telangana with an investment commitment of $34 mn.

1

Sumitomo enters Indian realty sector with $2 Bn project

Japan’s Sumitomo Corp and Indian auto-component manufacturer Krishna Group announce a 50:50 JV in the Indian real estate market to set up the Krisumi City Project in Gurugram in Haryana, with a planned investment of $2 Bn.

Panasonic inaugurates their maiden refrigerator factory

Panasonic India sets up their maiden refrigerator manufacturing factory in Haryana with an investment of $18 mn

Sega Sammy, GHV Accelerator to put $100k each in 10 startups

Japanese entertainment company Sega Sammy is partnering with Gurugram-based GHV Accelerator to invest a minimum seed fund of $1,00,000 each in 10 startups

Japanese MNC Toray to invest in Sri City in Andhra Pradesh

Japanese MNC Toray plans to set up their unit to manufacture technical textiles in Sri City in Andhra Pradesh, with expected investment inflow of $157 mn.

Japan’s Recruit Group, others invest in online lending startup Rubique

Rubique, a Mumbai-based online marketplace for financial products, has raised an undisclosed amount in a funding round led by Japan's Recruit Group and Russian venture capital firm Emery Capital.

Japan Plus

The Japan Plus at Invest India is the one-stop shop for exploring and materializing your India entry plans. Working closely with the Union Ministries, States and regulatory authorities, we bring to you a seamless experience in kick-starting your India business.

Key Functions

  • An entire spectrum of investment promotion - research, outreach, promotion, facilitation, and aftercare
  • Initiating, attracting, facilitating, fast-tracking and handholding Japanese investments across sectors
  • Providing information on investment opportunities across sectors, in specific projects
  • Extending holistic support to the small and medium enterprises from Japan with an interest in investing in India

India and Japan are ancient civilizations and vibrant democracies. Japan needs opportunities where it can deploy its hard-earned knowledge and technology. With the strength of our friendship and mutual trust, I invite more and more Japanese people and companies to come, live and work in India.

Shri Narendra Modi, Hon'ble Prime Minister of India

I would like to state that the India Japan partnership is special, strategic and global. India can become the factory of the world if both countries combine their efforts. We are committed to the policy of Make in India.

Shinzo Abe, Hon'ble Prime Minister of Japan

Japan and India are getting closer and closer. It is not just economic engagement, it is people to people exchange that is happening. Prime Minister Abe has a special interest in strengthening our bilateral relationship.

Kenji Hiramatsu, Ambassador of Japan to India

JAPAN - INDIA STARTUP HUB

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