In a significant boost to the Centre’s ‘Make in India’ push, JSW Steel and POSCO announced on Sunday plans to form a 50-50 joint venture to establish a 6-million-tonnes-per-annum integrated steel plant in Odisha by the end of 2026.
Kyunghoon Kim confirmed this on the social media platform X. The announcement came just ahead of the high-level summit between India and South Korea.
Kim is the head of India & South Asia team at Korea Institute for International Economic Policy (KIEP) under PMO / Political Economy of Development.
The proposed project is being viewed as another major example of a Korean company advancing India’s manufacturing ambitions under the ‘Make in India’ initiative.
In the post, Kim wrote, “Just before the Summit, a major announcement from Indian and Korean business giants: JSW Steel and POSCO will establish a 50-50 joint venture by end-2026 to set up a 6 MTPA integrated steel plant in Odisha.”
“Another example of a Korean company advancing ‘Make in India,” he added.
Just before the Summit, a major announcement from Indian and Korean business giants:
JSW Steel and POSCO will establish a 50-50 joint venture by end-2026 to set up a 6 MTPA integrated steel plant in Odisha.
Another example of a Korean company advancing “Make in India.” pic.twitter.com/a2Vl9HSiwJ
— Kyunghoon Kim (@Kyunghoon_Kim_) April 19, 2026
The planned steel plant in Odisha is expected to strengthen domestic production capacity while also enhancing technology collaboration between Indian and Korean firms.
It aligns with India’s broader strategy to position itself as a global manufacturing hub and reduce dependence on imports in key sectors like steel.
The development gains added significance as South Korean President Lee Jae Myung is slated to arrive in New Delhi today for a two-nation visit, which also includes Vietnam.
During his visit, Lee is scheduled to hold talks with Prime Minister Narendra Modi, marking their third in-person meeting after previous interactions on the sidelines of global forums.
The summit is expected to focus on expanding cooperation in sectors such as shipbuilding, maritime industries, artificial intelligence, and defence, alongside addressing global energy supply chain uncertainties triggered by ongoing geopolitical tensions.
Officials have indicated that strengthening economic ties and supporting Korean businesses operating in India will be key priorities during the visit.
India has emerged as a crucial production hub and a fast-growing consumer market for South Korean companies, particularly in sectors like electronics, automobiles and heavy industries.
