Union Commerce and Industry Minister Piyush Goyal on Monday, 22 June 2026 announced that India has become the world's leading ship recycling nation, with recycling volumes rising to 2.99 million gross tons (GT) in 2025, capturing 35.4 per cent of the global market. The minister said the achievement fulfils the Maritime India Vision (MIV) 2030 target five years ahead of schedule, crediting the milestone to policy reforms and ease of doing business initiatives under Prime Minister Narendra Modi.

Context

Goyal's post, shared on X (formerly Twitter), described the development as 'a milestone for India's shipping sector,' citing the country's dominant position in global ship recycling. Quoting official figures, he said India now accounts for more than a third of all ship recycling activity worldwide, reinforcing its status as 'a global hub for responsible and sustainable ship recycling.'

The announcement was accompanied by a link to a Press Information Bureau release, indicating the figures carry official government backing. The minister specifically attributed the achievement to PM Modi's 'exemplary leadership, maritime policy reforms and ease of doing business initiatives.'

Policy Backdrop

The Maritime India Vision 2030 was unveiled in 2021 during the Maritime India Summit as a comprehensive roadmap for the country's maritime sector, setting explicit targets for ship recycling capacity, sustainability standards, and sector modernisation. The government had aimed to reach these benchmarks by 2030; the claim that the target has been met by 2025 would represent a five-year advance on that timeline.

India's ship recycling industry is concentrated at coastal yards, most prominently in Alang, Gujarat, which has historically been among the largest ship-breaking locations in the world. Policy focus in recent years has centred on aligning Indian yards with international environmental and labour standards, including conventions such as the Hong Kong International Convention for the safe and environmentally sound recycling of ships.

The broader Sagarmala Project, launched in 2015, set the foundation for port-led maritime development, with ship recycling forming one pillar of India's expanded maritime ambitions. Successive ease of doing business measures have sought to formalise operations and attract greater tonnage away from competing South Asian recycling hubs.

Stakeholders and Impact

The ship recycling sector supports a large workforce of workers at coastal yards, as well as downstream industries that process recovered steel, machinery, and other materials. A larger share of global recycling volume strengthens demand for this workforce and for ancillary industries including steel re-rolling mills and scrap dealers.

For the broader maritime industry — including shipowners, classification societies, and insurers — India's dominance as a recycling destination means competitive pricing and, if sustainability standards are maintained, an increasingly viable option for environmentally compliant end-of-life vessel disposal. International shipowners have in recent years faced pressure from regulators and investors to ensure vessels are recycled at certified, responsible facilities.

What's Next

With the MIV 2030 ship recycling target now claimed as met, attention will turn to whether the government sets a revised, more ambitious benchmark and how it plans to sustain India's leading position against competition from Bangladesh, Pakistan, and Turkey. Regulatory updates to yard certification, worker safety standards, and environmental compliance will be closely watched by both domestic operators and international bodies.

Further implementation updates on remaining Maritime India Vision 2030 targets — covering port capacity, shipbuilding, and inland waterways — are expected as the government approaches the original deadline year of 2030, with Monday's announcement likely to serve as a template for showcasing early delivery on other sectoral goals.