Piyush Goyal Positions India as Semiconductor Hub, Invites Kansai Companies to Tap 150 Billion dollar Opportunity

Union Commerce and Industry Minister Piyush Goyal has invited Japanese companies, particularly those from the Kansai region, to participate in India’s rapidly expanding semiconductor industry and take advantage of the opportunities emerging in the sector. Speaking at an Investors and Business Roadshow, Goyal said India’s first Semiconductor Mission received a government commitment of $10 billion and, with support from state governments, helped attract about $20 billion in investments. The government has now introduced Semiconductor India Mission 2.0 with a $15 billion allocation. Combined with state-level incentives, the initiative is expected to generate around $50 billion in additional investment.

Goyal said India was prepared to provide further financial support as demand for chips continues to grow. He noted that India’s annual semiconductor consumption is projected to reach around $150 billion within the next five years, creating significant opportunities for companies looking to innovate, manufacture and develop technology in the country.

The minister also highlighted opportunities beyond the semiconductor industry. He referred to Japan’s interest in bringing around 300,000 Indian workers into different sectors and suggested that Kansai-based companies could help train them in Japanese language, workplace culture and professional practices before they begin working in Japan.

Goyal encouraged business leaders from the Kansai region to visit India and explore partnerships through investments, joint exhibitions, industry discussions and exchange programmes. Food processing was another sector he identified as having strong potential for India-Japan cooperation. He said India could benefit from Japanese expertise and quality standards to improve processed-food production, while Japanese companies could use India as both a growing consumer market and a technology partner.

The minister also highlighted the maritime sector, noting that nearly 250,000 Indian seafarers currently work on ships across the world. He pointed to an agreement with Mediterranean Shipping Company to establish a major seafarer training academy in Mumbai and encouraged Japanese shipping companies and maritime institutes to consider similar partnerships.

Goyal said cooperation in semiconductors, skilled manpower, food processing and shipping could create substantial opportunities for Japanese businesses while supporting India's broader economic and manufacturing ambitions. The outreach comes as India continues to strengthen its semiconductor ecosystem and attract global investment in advanced manufacturing and technology. For Japanese companies, closer engagement with India could provide access to a large domestic market, skilled workforce and an expanding industrial base.

Disclaimer: This image is taken from ANI.