India–South Korea Push $50 Billion Trade Goal; NSE Nears Dispute Settlement
India and South Korea have agreed to significantly deepen economic cooperation with a target to double bilateral trade to $50 billion by 2030. During a state visit by South Korean President Lee Jae Myung—the first such visit in eight years—he and Indian Prime Minister Narendra Modi outlined plans to expand collaboration across key sectors including energy, critical minerals, shipbuilding, semiconductors, and steel. Both sides also committed to reviving and upgrading their 2010 trade agreement to improve market access and address trade imbalances.
The two countries announced the formation of a new ministerial-level economic cooperation committee and pledged closer coordination in clean energy and nuclear power. Around 200 South Korean business leaders accompanied Lee, with major firms like Samsung, Hyundai, and LG exploring investment opportunities. Notably, POSCO plans to invest about $1.09 billion in a joint steel plant with India’s JSW in Odisha, signaling growing industrial ties and long-term investment momentum.
Separately, India’s market regulator has moved closer to resolving a long-standing dispute with the National Stock Exchange (NSE). A panel has recommended that NSE pay approximately $192.5 million to settle allegations related to governance lapses and unequal market access. The settlement could pave the way for NSE’s long-delayed IPO, potentially filed as early as next month, marking a major step for India’s largest unlisted company.
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