Commerce and Industry Minister Piyush Goyal today pitched India as a compelling destination for data centres, saying the country can work with Japanese companies to develop the sector and has already received investment commitments of about 200 billion dollar from large hyperscalers globally. Mr Goyal stated this during his meeting with Japanese Minister of Economy, Trade and Industry Akazawa Ryosei in Tokyo today. Mr Goyal said the partnership could be summarised around four pillars — increasing trade, strengthening technology cooperation, boosting investments and promoting tourism.
Separately, Mr Goyal addressed an Indian community event. He suggested that the community encourage people to learn the Japanese language. He said, if they learn the language and the culture, then huge opportunities are there in Japan, adding that remittances from Japan to India contribute to India’s growth Japan has significant demand for caregivers, nurses, plumbers, electricians, masons, carpenters and drivers, as well as highly skilled professionals such as AI specialists, PhDs, engineers and chartered accountants.
Earlier in the day, Commerce and Industry Minister addressed representatives of Japanese firms from semiconductors and artificial intelligence sectors in Tokyo. Speaking on the occasion, the Minister said, the government is working on a framework to exempt high-tech sector companies, including from Japan, from mandatory Bureau of Indian Standards (BIS) certification for equipment and components needed to set up manufacturing facilities in India. He said, the framework could provide exemptions at the company, industry, product or project level, depending on the requirements. He said, the objective is to ensure timely availability of equipment, goods and services for high-tech companies setting up manufacturing operations in India and support the government’s ‘Make in India’ initiative. Mr. Goyal said, India is a large and growing electronics market and its semiconductor demand is expected to grow up to 150 billion US dollar by 2032.
The Commerce and Industry Minister also held discussions with executives from Japan’s leading financial institutions to boost long-term investment and strengthen India-Japan economic ties. Representatives from various industries bodies discussed investment opportunities in India. Mr. Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 percent growth last year despite global uncertainties and is working toward becoming a 30 trillion dollar economy by 2047.
