India becomes world's top ship recycling nation in 2025

Key facts

• India became the world's leading ship recycling nation in 2025, achieving a key target under the Maritime India Vision (MIV) 2030 five years ahead of schedule.
• According to the United Nations Conference on Trade and Development (UNCTAD) report, India's share of global ship recycling rose to 35.4 per cent in 2025 from 30.1 per cent in 2024.
• The volume of ship recycling in India increased by nearly 60 per cent to 2.99 million gross tons (GT) in 2025 from 1.86 million GT in 2024.
• The government enacted the Recycling of Ships Act, 2019, aligning India's ship recycling ecosystem with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC), which India ratified in 2019.
• Financial assistance of Rs 53.5 crore was provided to modernise ship recycling yards, helping 115 facilities become HKC-compliant.