Summary:

In 2025, India became the world's top ship recycling country, surpassing its Maritime India Vision 2030 targets. With a volume of 2.99 million GT, the nation's contribution of worldwide recycling increased to 35.4%. 115 yards were able to comply with Hong Kong Convention requirements because to financial assistance, government reforms, and the Recycling of Ships Act of 2019. Recycling and local construction are further encouraged by the Ship-breaking Credit Note Scheme. India wants to increase Alang's capacity to nine million LDT. India is well-positioned to handle 500–600 ships a year, bolstering its position as a sustainable global maritime hub and supporting its long-term objective of maritime leadership and growth. Over 16,000 vessels are anticipated to be recycled globally in the next ten years.

Source: IBEF

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