India and South Korea to Double Trade to $50 Billion by 2030 Through New Agreements
India and South Korea have announced plans to significantly enhance their economic ties by aiming to double their trade to $50 billion by 2030. This initiative involves expanding cooperation in sectors such as energy, critical minerals, shipbuilding, semiconductors, and steel. The two nations have agreed to resume and intensify negotiations to revitalize their 2010 trade agreement. India seeks a more balanced trade relationship, while South Korea aims for greater market access. A notable development is the joint venture between South Korea's POSCO Holdings and India's JSW to establish a 6-million-ton-per-annum steel plant in Odisha, with an investment of approximately $1.09 billion. 
