Blitz Bureau
NEW DELHI: India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a $30 trillion economy by 2047, Commerce and Industry Minister Piyush Goyal said on August 25..
The discussions centred around strengthening long-term capital flows, deepening investment partnerships and expanding Japanese participation in India’s growth story. The meeting brought together senior representatives of MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life.
Goyal underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth.
He also highlighted significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure.
He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology.
India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub.
Goyal emphasised India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment, according to an official statement.
