India became the world's leading ship-recycling nation in 2025, reaching its Maritime India Vision 2030 goals five years ahead of schedule [1].

This milestone signals a shift in global maritime infrastructure, positioning India as the primary hub for vessel decommissioning and steel recovery. The achievement reflects a rapid scaling of industrial capacity and a strategic move to dominate a critical segment of the global shipping lifecycle.

Data from UNCTAD shows India's global ship-recycling market share rose to 35.4% in 2025 [1]. This is a significant increase from the 30.1% share the country held in 2024 [1].

The volume of ships recycled in India also saw a sharp climb. In 2024, the volume stood at 1.86 million gross tonnes (GT) [1]. By 2025, that figure grew to 2.99 million GT [2]. This represents an increase of nearly 60% in recycling volume over a single year [1].

Government officials and industry leaders said this growth is due to the modernization of recycling yards and the implementation of policy incentives. These updates allowed the industry to expand its capacity and attract more international vessels for decommissioning, a process that requires specialized infrastructure to manage safely.

The Maritime India Vision 2030 was designed to transform the sector through better environmental standards, and increased efficiency. By surpassing these targets by 2025, India has accelerated its timeline for becoming the dominant force in the global circular economy for maritime steel.

“India's global ship-recycling market share rose to 35.4% in 2025”

India's early achievement of its 2030 goals indicates a successful alignment of state policy and industrial investment. By capturing over a third of the global market, India is not only securing a massive source of raw steel but is also exerting greater influence over global maritime environmental standards. This acceleration suggests that the nation's infrastructure can now handle volumes far exceeding previous projections, potentially drawing more business away from other regional recycling hubs.