India is set to launch a major ship recycling initiative, targeting the recycling of nearly 16,000 vessels over the next decade with an $8 billion investment. This initiative emphasizes sustainable practices, aims to enhance maritime industrial growth, and ensures compliance with international environmental standards to boost India’s global recycling market share.
During India Maritime Week 2025, Union Minister Sarbananda Sonowal highlighted Prime Minister Narendra Modi’s transformative impact on India’s maritime sector. With participation from over 85 countries and more than 100,000 delegates, this unprecedented event emphasizes India’s ambition to lead in global seafaring and cruise tourism, showcasing its evolving maritime ecosystem.
The Indian government is launching a shipbuilding incentive scheme to elevate India’s shipbuilding industry globally. By offering financial support until 2035, India aims to climb from 22nd to top 10 in shipbuilding by 2030, and top 5 by 2047. Focusing on sustainability, the scheme promotes green fuels and electric/hybrid systems, aligning with India’s maritime vision.
