India-Japan economic ties are gaining momentum, with Uttar Pradesh seeking deeper Japanese investment and partnerships in green hydrogen, automobiles, advanced manufacturing, technology, innovation and healthcare. The UP-Japan Investment Meet 2026, organised by Invest UP, is running from August 18 to 23 across New Delhi, Lucknow, Agra, Greater Noida and Varanasi. The programme opened with a dinner reception in New Delhi on Tuesday, August 18, followed by a high-level CEO Roundtable in the capital on Wednesday, August 19, where Uttar Pradesh Chief Minister Yogi Adityanath, Union Ministers Piyush Goyal, Ashwini Vaishnaw and Shivraj Singh Chouhan, and other central and state officials took part. A Japanese delegation of more than 200 CEOs, business leaders, policymakers and industry representatives, led by Kotaro Nagasaki, Governor of Yamanashi Prefecture, is participating in the programme.
Addressing the dinner reception, Goyal invited Japanese businesses to deepen their investments and partnerships in India, presenting Uttar Pradesh as a destination for Japanese companies looking to expand. In a post on X following the event, Goyal said “Japan’s technological depth and industrial expertise complement India’s young and talented workforce,” adding that there was a “natural convergence” between the two countries in manufacturing, skilling and job creation. It was a pleasure to address the dinner reception for the Japanese delegation led by the Governor of Yamanashi Prefecture, Mr.
Kotaro Nagasaki, @Kotaro_Nagasaki, in the august presence of Uttar Pradesh Chief Minister @MYogiAdityanath ji and representatives of @JETRO_info and… pic.twitter.com/KxvAdBu0vS
— Piyush Goyal (@PiyushGoyal) August 18, 2026 “India welcomes the Japanese industry as partners in this growth story,” he said. He also said India and Japan share a long-term partnership based on common aspirations for peace, progress and prosperity in the Indo-Pacific, and that the participation of the Yamanashi delegation showed the bilateral relationship was expanding beyond the national level to India’s states and regions.
Uttar Pradesh is working towards its goal of becoming a $1 trillion economy under Yogi Adityanath’s leadership. The state has more than 9 million MSMEs and is the fifth-largest state exporter, while companies such as Escorts Kubota and Seiko Advance are part of its manufacturing ecosystem. $27.5 billion trade
Goyal said India-Japan bilateral trade stood at around $27.5 billion in FY2025-26 and Japan is now India’s fifth-largest source of foreign direct investment. More than 1,400 Japanese companies operate in India, including Suzuki, Toyota and Honda in mobility, Sony in electronics, and Hitachi and Mitsubishi in engineering. Existing cooperation includes the Mumbai-Ahmedabad High-Speed Rail project, Japanese-assisted metro systems in Delhi, Ahmedabad, Bengaluru and Chennai, and 11 Japanese industrial townships across eight states.
Referring to the 16th India-Japan Annual Summit held in Delhi in July 2026, Goyal highlighted Japan’s target of investing 10 trillion yen in India over the next decade. He identified artificial intelligence, semiconductors, critical minerals, batteries, energy and next-generation mobility as key areas for future investment.
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Goyal highlighted Jewar International Airport, the Western Dedicated Freight Corridor and 27 industrial clusters spanning sectors such as defence, semiconductors and electronics. The key sectors identified for cooperation include manufacturing, automobiles, semiconductors, green energy, digital infrastructure, skill development and tourism, with green hydrogen and advanced technologies also among the areas identified for greater cooperation. Yamanashi Governor Kotaro Nagasaki said the visit would help strengthen economic and institutional ties between Yamanashi and Uttar Pradesh, identifying clean energy, technology, skill development and tourism as areas with potential for greater cooperation. Japan partnership
Uttar Pradesh Finance and Parliamentary Affairs Minister Suresh Khanna said Japan is moving forward in the state’s development journey “not merely as an investor, but as a long-term and strategic partner.”
Addressing the meet at Taj Palace in New Delhi, Khanna said: “Relations between India and Japan are continuously strengthening on the basis of shared values, a common outlook and mutual priorities.
The participation of a large Japanese delegation is evidence of the growing confidence of Japanese industry in Uttar Pradesh.”
He linked the momentum to Yogi Adityanath’s recent visit to Japan, and cited Nivesh Mitra, the state’s single-window investment facilitation platform, as an initiative that has simplified business processes and accelerated turning investment proposals into projects. Yogi Adityanath said Uttar Pradesh was looking to build a long-term relationship with Japanese businesses to attract investment and create jobs. “Uttar Pradesh is committed to a long-term partnership with Japanese investors,” he said, adding that the state’s infrastructure, skilled talent and investment-friendly policies could give Japanese companies a strong foundation for investment and expansion. The main UP-Japan Investment Meet will be held in Lucknow on August 21, with government-to-business and business-to-business sessions, before the programme continues in Agra, Greater Noida and Varanasi through August 23. Goyal said he will visit Japan from August 24 to 27 to take forward discussions with government and industry and strengthen the Special Strategic and Global Partnership between India and Japan.
