South Korean shipbuilding giant HD Hyundai has inked a landmark Memorandum of Understanding (MoU) with the Tamil Nadu government to establish its first shipyard in India. The $2 billion investment will see the creation of a major shipbuilding facility in Thoothukudi, positioning Tamil Nadu at the heart of India's 'Maritime India Vision 2047.' The project, initially codenamed the SMITH Project and now rebranded as 'Make in Tamil Nadu' with Hyundai, is expected to generate approximately 55,000 jobs, including related developments by Cochin Shipyard and Mazagon Dock. HD Hyundai will also partner with BEML for local production of shipbuilding cranes. Thoothukudi was chosen for its strategic port infrastructure and favorable climate, closely mirroring HD Hyundai’s primary facility in Ulsan, South Korea. The region's deep-sea access, proximity to V.O. Chidambaranar Port, and strong policy incentives helped Tamil Nadu outcompete other states for the project.