Goyal’s jibe – No one disappears overnight in India:Without naming China, reassures Japanese investors that their data and technology will remain safe here

Union Minister of Commerce and Industry 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 make money or become successful in India, you will suddenly disappear one day and later emerge as a professor at a Japanese university. There is no such risk in India. Pointing towards the case of Chinese businessman Jack Ma Goyal did not name China or Jack Ma, but his reference was clearly towards Alibaba founder Jack Ma. After criticizing China’s financial regulators in 2020, Jack Ma suddenly disappeared for several months. Following this, the Chinese government cancelled 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 reappeared in 2023 as a visiting professor at Tokyo University. There will be no data theft or IPR violation in India Addressing Japanese industrialists, the Commerce Minister emphasized security and transparency above all else. He stated 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 a China Plus One option Global companies are currently adopting a ‘China Plus One’ strategy to reduce their dependence on China. Speaking on this, Goyal said, “India is not a ‘plus one’ country. India is, in itself, a strong and independent investment destination.” He said that India is ready to open its doors for investment 24 hours a day, but it will not be at the cost of the country’s own interests or under anyone’s pressure. Expectations of major investments in the semiconductor and AI sectors Goyal appealed to Japanese companies to increase investments in sectors like semiconductors, artificial intelligence, clean energy, and advanced manufacturing in India.