Dikhyaa Mohanty 
JSW Steel and POSCO announced plans on Sunday to establish a 50/50 joint venture to build an integrated steel factory in Odisha that would produce 6 million tonnes of steel annually by the end of 2026, a major boost to the Center’s Make in India campaign. Kyunghoon Kim made the statement on the social media site X just before the high-level conference between South Korea and India. Another significant example of a Korean business supporting India’s manufacturing aspirations under the Make in India program is the planned project.
“Indian and Korean business titans made a significant announcement prior to the summit: JSW Steel and POSCO will form a 50/50 joint venture by the end of 2026 to establish a 6 MTPA integrated steel plant.”
It is anticipated that the proposed steel facility in Odisha would increase local production capacity and improve technical cooperation between Korean and Indian businesses. It fits with India’s larger plan to establish itself as a worldwide center for manufacturing and lessen reliance on imports in important industries like steel. With South Korean President Lee Jae Myung scheduled to arrive in New Delhi today on a two-nation tour that also includes Vietnam, the development takes on additional significance.
Lee is expected to meet with Prime Minister Narendra Modi during his visit, which would be their third face-to-face encounter following earlier exchanges on the fringes of international conferences. In addition to tackling global energy supply chain challenges brought on by current geopolitical tensions, the conference is anticipated to concentrate on increasing collaboration in fields including shipbuilding, maritime industries, artificial intelligence, and defense. Strengthening economic connections and assisting Korean companies doing business in India would be top focuses during the visit, according to officials. For South Korean businesses, India has become a vital industrial base and a rapidly expanding consumer market, especially in areas like electronics, autos, and heavy industries.
