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India will amend regulations and introduce new rules within two months.
The changes are meant to address concerns raised by semiconductor and automotive component manufacturers.
Piyush Goyal said he met companies looking to bring manufacturing to India and assured them their issues would be accommodated.
He also said the Union Cabinet approved Semicon 2.0, which will seed about $50 billion into the ecosystem over the next year and a half.
Why it mattersRegulatory changes will impact supply chains and investments for semiconductor and auto component manufacturers.
More context
One report said India’s FTAs could eventually cover roughly 75 percent of global trade.
Another report said Goyal discussed broader economic cooperation with Japan, including artificial intelligence and bilateral trade figures.