India has emerged as the world’s leading ship recycling nation in 2025, capturing 35.4% of the global ship recycling market, according to the latest UNCTAD report. Ship recycling in India increased to 2.99 million gross tons (GT) in 2025, nearly 60% higher than 2024, enabling the country to achieve its Maritime India Vision 2030 target well ahead of schedule.
Key Highlights
| Key Point | Details |
|---|---|
| Global Leadership | India secured 35.4% of the global ship recycling market in 2025 |
| Strong Growth | Ship recycling volume rose to 2.99 million GT from 1.86 million GT in 2024 |
| MIV 2030 Target Achieved | India became the world’s top ship recycling nation ahead of schedule |
| Yard Modernisation | 115 recycling facilities upgraded to comply with international standards |
India has achieved a major milestone in the maritime sector by becoming the world’s largest ship recycling nation in 2025, according to the latest report released by the United Nations Conference on Trade and Development (UNCTAD). The country captured 35.4% of the global ship recycling market, up from 30.1% in 2024, reinforcing its growing dominance in the global maritime recycling industry.
Must Read
Ministry of Shipping sets Sagarmala Programme in motion by empaneling law firms
According to the Ministry of Ports, Shipping and Waterways (MoPSW), India recycled 2.99 million gross tons (GT) of ships during 2025, compared to 1.86 million GT in the previous year, registering a remarkable growth of nearly 60%. This achievement has enabled India to accomplish the target outlined under Maritime India Vision (MIV) 2030 several years ahead of schedule.
The government attributed this success to a series of maritime reforms, ease-of-doing-business initiatives, infrastructure upgrades, and policy interventions introduced under the leadership of Prime Minister Narendra Modi. These efforts have transformed India into a preferred destination for environmentally responsible ship recycling.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said that India’s emergence as the global leader reflects the success of sustained reforms, industry participation, and adherence to internationally recognised environmental and safety standards.
Industry projections indicate significant opportunities ahead. The Baltic and International Maritime Council (BIMCO) estimates that more than 16,000 vessels will require recycling globally over the next decade. With its current market leadership, India is well-positioned to recycle approximately 500 to 600 vessels annually, while continuing to expand its ship recycling capacity.
A major driver of this growth has been the implementation of the Recycling of Ships Act, 2019, which aligns India’s ship recycling ecosystem with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC). To support this transition, the government has provided ₹53.5 crore in financial assistance, helping 115 ship recycling facilities become HKC-compliant.
The ministry has also introduced the Ship-breaking Credit Note Scheme, under which ship owners receive a credit note equivalent to 40% of the scrap value of a recycled vessel. Additionally, efforts are underway to secure the inclusion of Indian ship recycling yards in the European Union’s approved list of recycling facilities, which could further strengthen India’s position in the global market.
Conclusion
India’s rise as the world’s leading ship recycling nation highlights the success of its maritime reforms, sustainability initiatives, and infrastructure modernisation efforts. With strong policy support, growing global demand, and internationally compliant recycling facilities, India is well-positioned to maintain its leadership in the ship recycling industry and play a key role in promoting environmentally responsible maritime practices worldwide.
FAQ Section
Q1. Which country became the world’s top ship recycling nation in 2025?
India became the world’s leading ship recycling nation in 2025 with a 35.4% global market share.
Q2. What was India’s ship recycling volume in 2025 ?
India recycled 2.99 million gross tons (GT) of ships in 2025.
Q3. What is Maritime India Vision 2030 ?
Maritime India Vision 2030 is the government’s roadmap for transforming India into a global maritime powerhouse through infrastructure development, sustainability, and industry reforms.
Q4. What is the Recycling of Ships Act, 2019 ?
The Act establishes a regulatory framework for safe and environmentally sound ship recycling in accordance with international standards.
Q5. How many Indian ship recycling facilities are HKC-compliant ?
A total of 115 ship recycling facilities have been upgraded to comply with the Hong Kong Convention standards.
