New Delhi: India has emerged as the world’s leading ship-recycling nation, capturing 35.4% of the global ship recycling market in 2025 and achieving a key target under the Maritime India Vision 2030 five years ahead of schedule. According to data from the United Nations Conference on Trade and Development (UNCTAD), India’s share increased significantly from 30.1% in 2024 to 35.4% in 2025.
The country’s ship recycling volume surged from 1.86 million gross tonnes (GT) in 2024 to 2.99 million GT in 2025, representing nearly 60% growth within a year. This remarkable expansion has enabled India to overtake other major ship-recycling nations and establish itself as the global leader in the sector.
A major contributor to this success has been the modernization of the Alang Ship Recycling Yard, one of the world’s largest ship recycling facilities. Government initiatives such as the Ship-breaking Credit Note Scheme, improved regulatory compliance and expansion of recycling infrastructure have strengthened India’s position in the global market.
India’s progress has also been supported by its implementation of the Recycling of Ships Act, 2019 and adherence to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, which promotes safer and more environmentally responsible ship dismantling practices. These reforms have enhanced international confidence in India’s ship recycling ecosystem.
The ship recycling industry plays a crucial role in India’s circular economy by recovering valuable materials such as steel, aluminium and copper from decommissioned vessels. Recycled steel from shipbreaking contributes significantly to the country’s construction and infrastructure sectors while reducing dependence on imported raw materials.
Industry experts believe the sector has strong long-term growth prospects. Global maritime forecasts indicate that more than 16,000 vessels could require recycling over the next decade, creating substantial opportunities for countries with modern and compliant recycling facilities. India’s growing capacity and regulatory improvements are expected to help it capture a significant share of this future demand.
The achievement is being viewed as a major milestone for India’s maritime sector and aligns with the country’s broader ambition of becoming a global maritime powerhouse through investments in ports, shipping, shipbuilding and sustainable recycling practices.
