The investment is part of POSCO’s strategy to expand its global supply chain and establish a strong production base in India. The development follows earlier agreements signed between the two firms in 2024 and 2025. Meanwhile, South Korean President Lee Jae Myung and Prime Minister Narendra Modi have also emphasized deeper cooperation in energy supply, trade, and emerging sectors such as critical minerals and artificial intelligence.

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The three-day conference, held from the 26th of this month, focused on the theme “Human Capital for Viksit Bharat.” Highlighting India’s demographic advantage, the Prime Minister noted that nearly 70 per cent of the population is of working age, presenting a historic opportunity to accelerate economic growth. He said India has boarded the “Reform Express,” driven by the energy of its youth, whose empowerment remains a key government priority.

Mr Modi stressed that Viksit Bharat stands for quality and excellence, urging stakeholders to go beyond average outcomes. He said “Made in India” must become a global symbol of quality, with zero defects and minimal environmental impact. He also called for identifying 100 products for domestic manufacturing to reduce import dependence.

The Prime Minister emphasised skill mapping, tourism development, sports infrastructure, high-value agriculture, digitisation of manuscripts and capacity building. He concluded by urging States to prepare 10-year actionable plans with clear targets and technology-based monitoring.

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