Winning Bizness Desk

Piyush Goyal Takes Dig At China, Assures Japanese Investors Their Data And Technology Are Safe In India

Union Commerce and Industry Minister Piyush Goyal has taken an apparent dig at China while pitching India as a safe and reliable destination for Japanese investors, saying entrepreneurship is celebrated in India and successful businessmen have nothing to fear about their future.

Addressing Japanese business leaders during a meeting with Sumitomo Corporation President and CEO in Tokyo, Goyal said investors need not worry that after making money or achieving success in India, they could suddenly disappear and later surface as professors at a Japanese university. He said such a risk does not exist in India.

Goyal's Remark Appears To Target Jack Ma

Although Goyal did not name China or Alibaba founder Jack Ma, his reference appeared to point clearly towards the Chinese billionaire's experience. Ma had largely stayed away from public view for several months after criticising China's financial regulators in 2020.

The episode was followed by the cancellation of Ant Group's record public listing and a $2.8-billion fine imposed on Alibaba by Chinese authorities. After remaining away from public life for a prolonged period, Ma resurfaced in 2023 as a visiting professor at the University of Tokyo.

India Promises Protection For Data And Technology

Goyal also sought to reassure Japanese companies about the protection of their technology, intellectual property and business interests in India. He said India does not steal technology from other countries or violate intellectual property rights to bring products to the market.

His message was aimed at presenting India as a transparent and dependable business environment at a time when global companies are reassessing their dependence on China.

India Says It Is More Than China Plus One

Goyal rejected the idea of India being viewed merely as another option under the global 'China Plus One' strategy. As companies seek to reduce their dependence on Chinese supply chains, India has emerged as a major alternative.

He said India was not simply a 'plus one' country, but a strong and independent investment destination in its own right. He added that India was ready to keep its doors open to investment around the clock, while making clear that this would not come at the cost of the country's interests or under external pressure.

Japan Remains A Major Source Of Foreign Investment

Japan is currently India's fifth-largest investor, with the country receiving $48.14 billion in foreign direct investment from Japan between 2000 and 2026.

Last year, Japan had set a target of investing around Rs 60,000 crore in India over the following decade. The expanding economic relationship, however, also faces challenges, particularly the growing trade deficit between the two countries.

Goyal Seeks Fresh Investment In Emerging Sectors

The minister urged Japanese companies to increase investments in sectors expected to shape India's next phase of industrial growth. His appeal covered technology-intensive and strategically important areas.

• Semiconductors
• Artificial intelligence
• Clean energy
• Advanced manufacturing

Goyal's pitch comes as India seeks to attract more high-value manufacturing and technology investments while strengthening domestic capabilities in critical industries.

Investment Push Comes With Stronger Assurances

By highlighting entrepreneurship, data security and intellectual property protection, Goyal sought to distinguish India's business environment from concerns associated with investing in some other major Asian economies.

His comments also carried a wider message for Japanese investors: India wants their capital, technology and manufacturing capabilities, but expects investment to take place within a framework that protects India's own economic interests.

India Wants Japanese Companies To Think Beyond China

The minister's Tokyo outreach reflects India's broader effort to position itself as a long-term investment destination rather than a temporary beneficiary of companies shifting production away from China.

With Japan already among India's biggest foreign investors and both countries seeking deeper economic ties, New Delhi is looking to convert the global supply-chain realignment into greater investment in emerging technologies, manufacturing and clean energy. Goyal's message was that Japanese businesses can grow in India without fearing for their data, technology or future.