AMN / NEWS DESK
Union Commerce and Industry Minister Piyush Goyal said India will amend existing regulations and introduce new rules over the next two months to address concerns raised by companies seeking to set up manufacturing operations in the country. Speaking during a programme in Tokyo, Mr Goyal said he met two major corporations earlier in the day–one planning to establish semiconductor equipment manufacturing in India and another operating in the automotive components sector.
The minister said he assured them that within the next two months, India will amend its regulations and bring in new rules to accommodate their requests. Mr Goyal said, the government was willing to address issues faced by investors where their demands were fair and justified. On India-Japan economic ties, he said, the two countries were complementary economies, with Japan bringing technology and business practices while India offered a young workforce, scale and a large domestic market. Mr. Goyal added that India and Japan were in active dialogue on working together as trusted partners, including to address concerns around AI being weaponised or monopolised. He also said India’s large domestic market and free trade agreements could provide Japanese companies with opportunities to manufacture in India and access global markets.
The minister is leading a nearly 200-business delegation to bolster economic ties between the two nations. The visit will cover Tokyo, Nagoya and Osaka, with representatives from key sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.