You won't disappear in India: Did Piyush Goyal take Jack Ma swipe at China?

While presenting India as the most trusted destination for investments, Piyush Goyal took a veiled swipe at China without naming it. The Union Minister used the example of Alibaba founder Jack Ma to tell Japanese investors why they should pick India.Piyush Goyal during a meeting with the president and CEO of Sumitomo Corporation in Tokyo (PTI)While seeking more Japanese investments in India, Union Minister Piyush Goyal sent a blunt message to investors in Tokyo while taking a veiled swipe at China. Pitching India as a trusted investment destination, Goyal underlined that investors wouldn't have to worry that they would one day disappear and later turn up as a professor at some university."Entrepreneurship is celebrated in India. You don't have to worry that if you make money in India, if you are a successful businessman, you may disappear one day, and end up coming out as a professor in a Japanese University. That risk doesn't happen in India," Goyal said.While Goyal didn't name China, the reference was hard to miss.DID PIYUSH GOYAL REFER TO JACK MA CASE?The Union Commerce Minister appeared to allude to Alibaba founder Jack Ma. The high-profile outspoken businessman disappeared from public view for several months after he criticised Chinese regulators in 2020. As China launched a crackdown on Ma's business empire, the blockbuster IPO of his Ant Group was called off. It was supposed to be the largest stock offering in global history. Alibaba Group was slapped with a fine of $2.8 billion for violating anti-trust rules.It only marked the start of an unprecedented regulatory crackdown by China on the private sector. Since then, Ma retreated from his businesses. He kept a very low profile and spent more time overseas, mostly in Japan. There was also speculation that Ma might have been placed under house arrest or detained briefly.He emerged in public in 2023, when he gave his first lecture as a visiting professor to the University of Tokyo. He is also engaged with the University of Hong Kong's business school.By citing Jack Ma's example, Goyal sought to persuade Japanese companies to deepen their investments in India, especially in sectors such as semiconductors, AI, clean energy and advanced manufacturing. The Union Minister, who is on a four-day visit to Japan, is leading a delegation of more than 200 Indian business leaders.The visit is significant. Japan is the fifth-largest investor in India. Between 2000 and 2026, India received $48.14 billion in FDI from Japan. Last year, Japan set an investment target of about Rs 60,000 crore in India over the next decade. However, the huge trade deficit is a matter of concern. Piyush Goyal with Japanese business leaders in Tokyo (PTI) 'YOUR DATA WILL NEVER BE STOLEN IN INDIA'On Tuesday, Goyal's larger pitch centred on trust for Japanese businesses in India. He underscored that India neither steals technology nor copies intellectual property to bring products to the market."Your data will never be stolen. You can trust that your intellectual property will never be compromised. IPR is respected in India. Entrepreneurship is celebrated in India," he harped.While stressing that India was ready to open its doors to investment 24X7, he underlined that it would not be at the cost of its own interests or on terms dictated by industry.The Union Minister argued that India should be seen as a destination in its own right, rather than simply another alternative for companies seeking to reduce their dependence on China."ndia is not a plus one country," Goyal said. The timing is crucial, coming at a time when global companies are looking to diversify their manufacturing and supply chains beyond China.- EndsPublished By: Abhishek DePublished On: Aug 25, 2026 14:12 IST