HD Hyundai is set to invest $2bn to develop a new shipyard in Tamil Nadu, marking a significant milestone in India’s bid to build a stronger global shipbuilding presence. The announcement was made at the Tamil Nadu Investment Conclave 2025. The partnership with the state government places the Thoothukudi region at the centre of this growth, supported by favourable weather conditions, existing Korean industrial facilities, and strong regional infrastructure.
Alongside Tamil Nadu, regions such as Gujarat and Andhra Pradesh have also been shortlisted for major shipyard development by the Indian Government, but Hyundai’s commitment could give Tamil Nadu a decisive advantage. The new shipyard plan comes after earlier commitments from Cochin Shipyard and Mazagon Dock Shipbuilders, which together have pledged about ₹30,000 crore in investments for Thoothukudi.
Strengthening Industrial Partnerships
This agreement follows a series of strategic partnerships by the Korean group. Earlier this month, HD Hyundai and Bharat Earth Movers Limited signed an MoU to challenge China’s ZMPC, which currently dominates India’s heavy crane market. Another MoU with Cochin Shipyard aims to boost ship design, supply chain efficiency, and workforce development, laying the foundation for long-term collaboration.
India’s Push Toward the Global Top 10
These projects are expected to generate roughly 55,000 jobs, further cementing the district’s rise as a major industrial and maritime hub and making the region one of the biggest emerging shipbuilding and maritime clusters in the country.
India’s goal to enter the top 10 shipbuilding nations by 2030 is ambitious. The country currently ranks between 16th and 22nd, with a global share well below 1%. Yet rising international investment suggests momentum is building. Major commitments include Maersk’s $2bn expansion at APM Terminals Pipavav, DP World’s $5bn for coastal shipping and shipyard development, and MSC’s plan to shift 12 vessels to the Indian registry.
