New Delhi, July 2: Union Commerce and Industry Minister Piyush Goyal emphasized on Thursday that investment is a vital component of the India-Japan partnership, strengthening ties between the two nations.
In a conversation with Rahul Kanwal, Editor-in-Chief of NDTV, during ‘The Indo-Japan Strategic Dialogue’, Goyal noted that the partnership primarily focuses on investment.
He stated, “Maruti Suzuki entered India nearly 40 years ago, bringing modern, affordable, and technology-driven vehicles, which ultimately set India on the path to becoming a global power in the auto sector.”
Goyal highlighted that out of the 400,000 passenger vehicles sold in India in May, 147,000 were from Maruti Suzuki.
Discussing Japan’s role in specific sectors, Goyal mentioned that India’s first dedicated freight corridor was built in partnership with Japan in Odisha, facilitating the export of iron ore.
The minister described the trade relationship as multifaceted, stating that India imports technology-based products from Japan while exporting value-added goods.
“We are not selling raw materials or intermediates. We are providing Japan with high-quality, precision-engineered materials, auto parts, and electronic components. Thus, both trade and investment are integral to this relationship,” he explained.
Regarding the next phase of the India-Japan partnership, Goyal expressed India’s commitment to enhancing its trade ties with Japan and is eager to elevate them to the next level.
He added, “We are keen to promote more trade and investment with Japan.”
One of the major projects between India and Japan is the 508-kilometer Mumbai-Ahmedabad high-speed rail corridor. Utilizing Japanese Shinkansen technology, trains will operate at speeds of 320 km/h, reducing travel time between the two cities from over six hours to just over two hours.
Addressing delays in the project, Goyal criticized the previous MVA government in Maharashtra, accusing them of causing delays in land acquisition for political reasons.
He stated, “We were on the right track, and most of the land acquisition in Gujarat was completed. However, the MVA government, perhaps out of animosity towards the people of Maharashtra, did not allocate land for the main stations. This wasted a lot of our time.”
Goyal assured that under the BJP-led government in the state, the project is back on track for its 2029 deadline.
He mentioned, “Land for the stations has been allocated. I believe the project is now on the right path.”
Goyal also emphasized the need for more opportunities for Indian professionals in Japan, particularly in the healthcare sector. He noted the demand for skilled caregivers due to Japan’s aging population, stating that knowledge of the Japanese language and culture could open new avenues for Indian healthcare professionals.
“The demand for highly skilled caregivers in Japan is significant. However, a crucial requirement is proficiency in the Japanese language. Otherwise, how will they provide nursing care for the elderly in Japan?” he asked.
He concluded, “If you have a combination of language skills and cultural knowledge, it will be even better.”
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