In 2025, India surpassed all other nations in ship recycling, marking a significant achievement in the marine sector, as revealed in the most recent report from the United Nations Conference on Trade and Development (UNCTAD). This country’s increasing dominance in the global maritime recycling business was further demonstrated in 2025, when it grabbed 35.4% of the market for ship recycling, up from 30.1% the previous year.
In 2025, India recycled 2.99 million GT of ships, up from 1.86 million GT the year before, an impressive increase of about 60%, according to the Ministry of Ports, Shipping and Waterways (MoPSW). Thanks to this success, India will have achieved its goal from Maritime India Vision (MIV) 2030 years earlier than expected.
Prime Minister Narendra Modi oversaw a number of reforms in the maritime sector, as well as measures to make doing business easier, improve infrastructure, and implement new policies, all of which contributed to the government’s claim of success. As a result of these initiatives, India is now the go-to spot for eco-friendly ship recycling.
Sarbananda Sonowal, India’s Union Minister for Ports, Shipping and Waterways, stated that the country’s rise to the top is due to its commitment to long-term reforms, the active involvement of its industry, and the implementation of globally acknowledged safety and environmental regulations.
There are substantial prospects on the horizon, according to industry forecasts. According to the Baltic and International Maritime Council (BIMCO), recycling will be necessary for over 16,000 boats worldwide in the coming decade. India can continue to increase its ship recycling capacity and maintain its position as the industry leader, allowing it to recycle 500 to 600 boats each year.
The Recycling of Ships Act, 2019, which regulates ship recycling in India and brings it in line with the HKC (International Convention for the Safe and Environmentally Sound Recycling of Ships), has been a key factor in this expansion. The government has offered 115 ship recycling facilities ₹53.5 crore in financial aid to help them become HKC-compliant, which will aid in this transition.
The Ship-breaking Credit Note Scheme, which was also instituted by the ministry, allows ship owners to obtain a credit note that is equal to forty percent of the scrap value of a recycled vessel. Also, Indian ship recycling yards are trying to get on the EU’s approved list of recycling facilities, which would be a huge boost for India’s worldwide market standing.
Image: Fortune India
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