POSCO plans to build a $12 billion steel mill in the eastern Indian state of Odisha, but the project has been held up for years due to protests from local farmers and fishermen.

The South Korean government has voiced concerns about the delay over what is touted as India's biggest single foreign direct investment.

"We are concerned about the delays and will be conducting a review. The Prime Minister himself is monitoring the issue," said Sharma, according to a government statement.