Union Commerce Minister Piyush Goyal has taken a dig at China without naming it. During a meeting with the President and CEO of Sumitomo Corporation in Tokyo, Goyal said that entrepreneurship is celebrated in India. You do not need to worry that if you earn money or become successful in India, one day you will suddenly disappear and later emerge as a professor in some Japanese university. There is no such risk in India. Pointing towards the case of Chinese businessman Jack Ma, Goyal did not take the name of China or Jack Ma, but his reference was clearly towards Alibaba founder Jack Ma. In 2020, Jack Ma suddenly disappeared for several months after criticizing China’s financial regulators. After this, the Chinese government canceled the record IPO of his company Ant Group and imposed a fine of $ 2.8 billion on Alibaba. After staying away from public life for a long time, Jack Ma appeared as a visiting professor at Tokyo University in 2023. There will be neither data theft nor IPR violation in India. While addressing the Japanese industrialists, the Commerce Minister laid maximum emphasis on security and transparency. He said that India does not steal technology from any other country nor does it launch products in the market by violating the intellectual property rights (IPR) of others. India is not just an option for China Plus One. These days, global companies are adopting ‘China Plus One’ strategy to reduce their dependence on China. Talking on this, Goyal said that “India is not a ‘plus one’ country. India in itself is a strong and independent investment destination.” He said that India is ready to open the doors of investment 24 hours, but it will not be at the cost of the country’s own interests or under anyone’s pressure. Expecting big investment in semiconductor and AI sector, Goyal appealed to Japanese companies to increase investment in sectors like semiconductor, artificial intelligence, clean energy and advanced manufacturing in India. FDI: Japan is the fifth largest investor in India. Between 2000 and 2026, India has received foreign direct investment of $ 48.14 billion from Japan. Future target: Last year, Japan had set a target of investing about ₹ 60 thousand crores in India in the next decade. However, the increasing trade deficit between the two countries still remains a matter of concern.
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Goyal’s taunt – No one disappears overnight in India: Without naming China, he told Japanese investors – Your data and technology will be safe here.
