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.

Trade agreements are increasingly being seen as a crucial part of India’s broader Saptadhara vision, with the government seeking to connect domestic growth with expanding opportunities in global markets. The seven-stream vision, outlined by Prime Minister Narendra Modi in his Independence Day address, focuses on areas including manufacturing, agriculture, technology and innovation, infrastructure, defence, the green and blue economy, and India’s cultural and soft-power influence. The underlying objective is to accelerate economic growth while strengthening India’s position in the global economy.

Trade policy has an important role to play in this strategy because access to international markets can provide Indian companies with new customers, encourage investment and support the expansion of domestic production. Recent trade agreements with major economies have therefore gained significance as India seeks to increase exports and become a more important part of global supply chains.

The government has increasingly encouraged Indian businesses, particularly micro, small and medium enterprises, to use trade agreements to expand beyond the domestic market. Lower tariffs and improved market access can create opportunities for exporters, but businesses will still need to meet international standards on quality, pricing, packaging and reliability.

The manufacturing component of the Saptadhara vision is closely linked to this objective. India wants to move towards larger and more integrated manufacturing ecosystems capable of supplying both domestic consumers and overseas markets. A stronger export base could also encourage companies to invest in new factories, technology and skilled workers.

Agriculture and food processing offer another significant opportunity. Indian products such as spices, millets, processed foods, fruits and other agricultural goods have growing potential in international markets. However, expanding agricultural exports will require better cold-chain infrastructure, food processing facilities, quality certification and efficient logistics.

For MSMEs, trade agreements could be particularly important. Smaller businesses often have products that can find buyers overseas but may lack the resources or knowledge needed to enter foreign markets. Easier export procedures, access to finance and better information about international regulations could help more such businesses benefit from newly opened markets.

Trade deals also need to be supported by improvements within India. Efficient ports, roads, railways, warehouses and digital systems are essential if exporters are to deliver products quickly and competitively. In this sense, infrastructure development under the Saptadhara framework can directly support India’s trade ambitions. The same applies to technology. Automation, artificial intelligence, digital commerce and advanced manufacturing can help Indian companies improve productivity and compete with established exporters from other countries. Technology can also make it easier for smaller firms to identify overseas customers and manage international transactions.

The bigger challenge, however, will be converting trade agreements into actual increases in exports and investment. Signing an agreement may open a foreign market, but Indian businesses must be prepared to compete once that market becomes accessible. This means the success of the Saptadhara vision will depend not only on the number of trade agreements India signs, but also on the ability of Indian companies to take advantage of them. Competitive products, dependable supply chains, skilled workers and consistent quality will be essential.

If these elements come together, trade could become one of the important links connecting India’s manufacturing, agriculture, technology and infrastructure ambitions. For a country targeting the goal of Viksit Bharat by 2047, expanding India’s role in global commerce could prove central to turning the Saptadhara vision into measurable economic gains.

Disclaimer: This image is taken from Hindustan Times.

India and Singapore have concluded the fourth India-Singapore Ministerial Roundtable (ISMR), with ministers from both countries identifying several emerging sectors—including the green economy, industrial parks, fintech, semiconductors and green shipping—to further expand bilateral cooperation. According to a statement issued by the Ministry of External Affairs (MEA) on Friday, the ministers reviewed progress under the India-Singapore Comprehensive Strategic Partnership (CSP), which is built around six key pillars: advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development, and sustainability.

During the discussions, both sides welcomed the steady expansion of bilateral ties and explored opportunities in green economy, industrial parks, food security, digital connectivity, fintech, semiconductors and green shipping. India was represented by Finance and Corporate Affairs Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada.

Singapore's delegation included Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Senior Minister and Coordinating Minister for National Security K Shanmugam, Foreign Minister Vivian Balakrishnan, Minister for Digital Development and Information Josephine Teo, and Transport Minister and Second Minister for Finance Jeffrey Siow. The ministers reviewed progress across several areas of the partnership. These included the growing number of transactions through the UPI-PayNow linkage, the pilot registration of Indian generic medicines in Singapore, and increased exports of Indian fruits such as litchis, mangoes, cherries and plums. Singapore has also approved Indian establishments for the export of processed poultry products.

Other initiatives discussed included the development of the National Centre of Excellence for Skilling in Chennai, the upcoming fourth Singapore-India Hackathon, scheduled for November 15-17, 2026, and the planned Green Lane Initiative for semiconductors. Cooperation is also progressing on green hydrogen supply chains, while the Singapore Business Federation is set to open an office in Bengaluru. Both countries agreed to strengthen connections between Indian states and Singapore, including by encouraging regular visits by Indian chief ministers to Singapore.

Several agreements and understandings were also exchanged during the roundtable. The Food Safety and Standards Authority of India (FSSAI) and the Singapore Food Agency signed an MoU on food safety cooperation. The agreement will facilitate technical information sharing and support smoother bilateral trade in agricultural and food products.

Another MoU between India's Ministry of Ports, Shipping and Waterways and Singapore's Ministry of Culture, Community and Youth will promote cooperation in maritime heritage. It will facilitate exchanges between museums and institutions, including India's National Maritime Heritage Complex at Lothal in Gujarat.

India's Telecom Regulatory Authority of India (TRAI) and Singapore's Info-communications Media Development Authority (IMDA) also exchanged a Letter of Intent aimed at sharing regulatory experiences in telecommunications and broadcasting. During the visit, the Indian ministers met Singapore Prime Minister Lawrence Wong. Sitharaman also held discussions with Jeffrey Siow, while Jaishankar met K Shanmugam and Vivian Balakrishnan.

Jaishankar and Balakrishnan jointly laid the foundation stone for the new Chancery-cum-Residential Building Complex of the High Commission of India in Singapore. Commerce Minister Piyush Goyal addressed the India-Singapore Business Forum and met potential investors and industry representatives. He also visited an exhibition showcasing Indian agricultural products aimed at boosting exports to Singapore.

Minister of State Jitin Prasada held discussions with semiconductor industry stakeholders, alongside a dedicated Semiconductor Industry Roundtable. The two sides also received the report of the fourth India-Singapore Business Roundtable (ISBR), which serves as an advisory platform for business leaders to provide industry perspectives on bilateral economic cooperation.

The MEA said the ISMR mechanism reflects the dynamic, multidimensional and future-oriented nature of India-Singapore relations. The bilateral relationship was elevated to a Comprehensive Strategic Partnership during Prime Minister Narendra Modi's visit to Singapore in September 2024, while a roadmap for implementing the partnership was adopted during Singapore Prime Minister Lawrence Wong's visit to India in September 2025.
Disclaimer: This image is taken from X/@DrSJaishankar.

Gujarat is seeking to strengthen its collaboration with Walmart to help the state’s micro, small and medium enterprises (MSMEs) and small artisans gain greater access to international markets ahead of the Vibrant Gujarat Summit 2027. Gujarat Chief Minister Bhupendra Patel, who reached Washington, DC on Wednesday after completing his engagements in San Francisco as part of his week-long US-Canada visit, met Walmart Executive Vice President Dan Bryant for discussions on expanding export opportunities for local businesses.

During the meeting, Patel and Bryant focused on improving product quality and creating better avenues for Gujarat-based MSMEs to enter global markets. The Chief Minister also proposed joint workshops involving Walmart and relevant state government departments to identify opportunities in specific sectors. The two sides are expected to work together over the next three to four months to map potential international markets and develop opportunities for MSMEs and small-scale artisans from Gujarat.

Bryant also highlighted Walmart’s Vriddhi programme, which has trained more than 1.15 lakh MSMEs since its launch in 2019. The programme has set a target of supporting and training 1.70 lakh MSMEs by 2028. Introduced initially with the goal of empowering 50,000 MSMEs over five years, Walmart Vriddhi surpassed that target by training more than 70,000 enterprises during its first phase. The programme, implemented in partnership with the Ideas to Impact Foundation, provides free supplier-development support, combining digital training and business tools to help Indian entrepreneurs modernise operations, expand their businesses and become more competitive.

Patel and Walmart also discussed establishing a clear action plan for MSME collaboration, with the possibility of announcing a roadmap at the upcoming Vibrant Gujarat Summit 2027. The Gujarat government delegation, led by Patel, has also held meetings with senior representatives of global companies working in areas such as semiconductors, artificial intelligence, deep technology, startups, cybersecurity and skill development during the Chief Minister’s San Francisco visit. According to the state government, these discussions focused on attracting investment and strengthening Gujarat’s position as a major hub for semiconductor manufacturing and advanced technologies in India.

Disclaimer: This image is taken from CM Bhupendra Patel.

The White House has announced the threat of sanctions against countries that continue to conduct trade with Iran, intensifying Washington’s efforts to put further economic pressure on Tehran as its military campaign faces mounting challenges. US Treasury Secretary Scott Bessent unveiled what he described as “Operation Economic Outcast”, drawing a comparison with the historic D-Day invasion to underline the scale of the economic measures being pursued against Iran. The strategy aims to deepen Iran’s economic isolation by discouraging other countries from maintaining commercial ties with Tehran. However, China, Iran’s largest trading partner, has already indicated that it is unlikely to support or comply with President Donald Trump’s efforts to target the Iranian economy. The latest measures come as the Trump administration looks to increase pressure on Tehran and force an end to the conflict. The move raises questions over how effective the economic campaign will be and whether Washington can persuade major trading partners to join its strategy. Lucy Hough discusses the latest developments with Julian Borger, senior international correspondent, examining the US pressure campaign, China’s position and what the economic escalation could mean for the wider conflict.

Disclaimer: This podcast is taken from The Guardian.

In today’s 17 August market analysis on Open For Business, Hairianto Diman and Justine Moss are joined by Nick Ferres, Chief Investment Officer at Vantage Point, to discuss the latest market trends and developments.

Disclaimer: This podcast is taken from CNA.

On today’s (13 August) episode of Open For Business, Hairianto Diman and Justine Moss discuss the latest market trends and economic developments with Will McGough, Chief Investment Officer at Prime Capital Financial. The conversation explores current market conditions, investment sentiment, inflation, interest rates, and the broader outlook for investors as global financial markets respond to evolving economic signals and changing expectations.

Disclaimer: This podcast is taken from CNA.

On the July 13 edition of Open For Business, Andrea Heng and Hairianto Diman spoke with Mel Siew, Head of Asia Public Credit at Muzinich & Co., to examine the latest market trends. The discussion covered the resilience of Asian credit markets, growth opportunities in AI infrastructure, and the potential inflationary impact of rising oil prices on the global economy.

Disclaimer: This podcast is taken from CNA.