India became the world's largest ship recycling nation in 2025, capturing 35.4% of global ship recycling, achieving its MIV 2030 target five years early through HKC-compliant green recycling reforms and modernization.
NEWS: India became the world's largest ship recycling nation in 2025, with a 35.4% share of global ship recycling, according to the UNCTAD report.
ABOUT
- India recycled 2.99 million Gross Tons (GT) of ships in 2025, a nearly 60% increase over 2024.
- Achieved the Maritime India Vision (MIV) 2030 target of becoming the global leader in ship recycling five years ahead of schedule.
- The Recycling of Ships Act, 2019 aligns India's ship recycling industry with the Hong Kong International Convention (HKC), which India ratified in 2019.
KEY INITIATIVES
- Government provided ₹53.5 crore to modernize ship recycling yardsà enabling 115 facilities to become HKC-compliant.
- Introduced the Ship-breaking Credit Note Scheme, under which ship owners receive a 40% scrap value credit note, usable for up to 5% of the cost of a new ship built in an Indian shipyard.
- India is working to secure approval for its ship recycling yards under the European Union Ship Recycling Regulations (EUSRR).
SIGNIFICANCE
- Strengthens India's leadership in green and sustainable ship recycling.
- Promotes the circular economy, environmental protection, worker safety, and domestic shipbuilding.
- Expansion of the Alang Ship Recycling Yard (Gujarat) aims to increase recycling capacity to 9 million Light Displacement Tons (LDT), supporting future global demand.