Tokyo: Commerce and Industry Minister Piyush Goyal Wednesday highlighted India’s emergence as the world’s third-largest startup ecosystem, with nearly 250,000 startups established over the last decade, at the India–Japan Startup Roundtable here, according to an official statement.
The roundtable brought together senior government representatives, investors, industry leaders, and startups from both countries, reaffirming the shared commitment of India and Japan to deepen cooperation in startups, deep technology, innovation and MSMEs. Discussions focused on strengthening technology partnerships, promoting investment and fostering the next phase of innovation-led economic collaboration between the two countries.
Minister Goyal said India’s large domestic market, deep STEM talent pool, digital public infrastructure and rapidly expanding innovation ecosystem make it an attractive destination for Japanese technology, investment, and innovation partnerships.
Welcoming the participants, Ambassador Nagma Mohamed Mallick highlighted the growing startup engagement between the two countries. The India–Japan Pitching Series has already connected 65 Indian startups with around 100 Japanese corporations and facilitated more than 30 business tie-ups. She noted that the participation of a 222-member Indian business delegation provides an opportunity to forge new and enduring partnerships between the two innovation ecosystems.
Goyal proposed a forward-looking framework for the next phase of India–Japan startup cooperation centred on four pillars: a Japan–India Deep-Tech Capital Corridor to mobilise patient capital for early-stage research, deep-tech innovation and commercialisation; a Two-Way Innovation Bridge connecting universities, incubators, R&D institutions, laboratories and testing facilities in both countries; Manufacturing and Technology Integration, combining India’s scale, engineering talent and entrepreneurial dynamism with Japan’s precision engineering, technology and manufacturing capabilities; and Joint Startup Pitching Platforms to facilitate regular interactions between Indian founders, Japanese corporations, venture funds and strategic investors.
The minister also highlighted the Indian government’s proposed second Fund of Funds of around $1 billion, with a focus on supporting deep-tech enterprises, and invited greater participation from Japanese investors.
Japanese stakeholders welcomed the growing maturity of India’s startup ecosystem.
JICA Senior Vice President Shohei Hara emphasised the importance of a two-way partnership, noting that Japan can contribute its technological capabilities while learning from India’s ability to convert social and developmental challenges into scalable business opportunities. JICA also expressed its intention to showcase opportunities in the Indian market to a larger number of Japanese startups.
Representatives of around 40 leading Japanese companies, including SPARX Group, MUFG Innovation Partners, Beyond Next Ventures Inc., Incubate Fund Asia, Mizuho Financial Group, SBI Investment, Fujitsu Limited, DG Daiwa Ventures, ASTRO GATE Inc., Incubate Fund, Instalimb Inc., Universal Materials Incubator Co., Ltd., Kyoto Fusioneering Ltd. and Aerosense Inc., also participated in the discussions.
Industry representatives stressed the importance of integrating MSMEs with startups and global supply chains and providing plug-and-play infrastructure to companies seeking to manufacture and expand in India.
Venture capital investors identified AI, semiconductors, healthcare, space, defence, advanced manufacturing and deep technology as major areas for future India–Japan investment. Investors also noted the visible transition of India’s startup ecosystem from predominantly internet and software businesses towards manufacturing- and technology-intensive enterprises.
Indian startups showcased capabilities across aerospace and defence, drones, artificial intelligence, healthcare, prosthetics, robotics, warehouse automation, mobility and digital health. Several companies explored Japanese partnerships for technology validation, precision manufacturing, investment, market access and integration into Japanese and global supply chains, the statement added.
