According to the latest report issued by the United Nations Conference on Trade and Development (UNCTAD), India has established itself as the world’s leading ship recycling nation. Data released by the Ministry of Ports, Shipping and Waterways (MoPSW) on Monday highlights that India expanded its global market share of ship recycling activity to 35.4% in 2025, rising from 30.1% the previous year. This rapid growth fulfills a core milestone under the Maritime India Vision (MIV) 2030 framework well ahead of schedule.
The domestic sector processed 2.99 million gross tonnes (GT) of vessels over the year, registering a steep 60% surge from the 1.86 million GT recorded previously. Strategic state interventions have driven this expansion, particularly via the Recycling of Ships Act, 2019, which aligned local yards with the green guidelines of the Hong Kong International Convention.
The government has infused ₹53.5 crore in targeted modernization funding, enabling 115 regional dismantling facilities to achieve strict international environmental compliance. Current infrastructure blueprints aim to nearly double the total operational capacity of the primary Alang ship recycling yard to 9 million light displacement tonnes (LDT). With over 16,000 vessels projected for global decommissioning over the next ten years, the country remains structurally positioned to capture subsequent international recycling demands.
