India becomes world's top ship recycling nation with 35% global share

India has emerged as the world's leading ship recycling nation, with its global market share rising from 30.1% in 2024 to 35.4% in 2025. UNCTAD data showed India recycled 2.99 million Gross Tonnes (GT) of ships in 2025, up from 1.86 million GT in 2024. India achieved its Maritime India Vision 2030 target five years ahead of schedule.