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Paris / New Delhi: Union Finance Minister Nirmala Sitharaman held high-level discussions with Flying Whales President Sebastien Bougon in Paris. The talks focused primarily on the French aerospace company’s ambitious plans to establish its entire manufacturing and operational ecosystem within India. It marks a major development for India's aerospace and heavy logistics sector.

During the meeting, Bougon briefed the Finance Minister on the company's global sustainable public-private partnership (PPP) projects and its diverse industrial applications. He emphasized that the company’s heavy-lift airships are designed to stimulate economic development in landlocked regions while drastically reducing the environmental footprint associated with conventional cargo transport.

India as a Central Global Base for Airship Technology

Welcoming the company's interest, Minister Sitharaman highlighted the massive market opportunities available in India for disruptive aerospace firms. She encouraged Flying Whales to actively engage with India’s vibrant, rapidly growing startup ecosystem operating in the drone and aviation technology space.

Furthermore, the Finance Minister showcased the competitive advantages offered by the International Financial Services Centres Authority (IFSCA) at GIFT City. She pointed out that India's modernized regulatory framework for aircraft leasing, alongside tax-friendly Maintenance, Repair, and Overhaul (MRO) services, could serve as a powerful financial springboard for the company's global operations.

The Strategic Partnership and the LCA60T Airship

This high-profile meeting follows the first phase of a strategic partnership announced between Flying Whales and India’s BLP Group on April 2—a collaboration.  The partnership coincided with the bilateral summit between French President Emmanuel Macron and Prime Minister Narendra Modi.

The joint venture aims to position India as the central manufacturing and assembly hub for the next-generation LCA60T airship, catering directly to the booming Asian and Middle Eastern logistics markets.

-------------------------------------------------------- Dimensions: 200 Metres Long | Buoyancy: Helium-Filled Payload Capacity: 60 Tonnes | Infrastructure: No Runways Required Key Capabilities of the LCA60T: -

Point-to-Point Heavy Lifting: Designed to transport oversized industrial cargo—such as wind turbine blades, electrical transmission towers, and aerospace components—directly to remote project sites.

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Infrastructure Independence: Operates on an "airline-style" service model capable of loading and unloading heavy payloads hovering mid-air, completely bypassing the need for conventional ground infrastructure like runways or heavy-duty roads.

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Disaster Relief & Defense: Uniquely optimized to deliver bulky medical aid, emergency supplies, and military equipment to remote or hostile terrain where infrastructure has been compromised by natural disasters.

Paris / New Delhi: Union Finance Minister Nirmala Sitharaman held high-level discussions with Flying Whales President Sebastien Bougon in Paris. The talks focused primarily on the French aerospace company’s ambitious plans to establish its entire manufacturing and operational ecosystem within India. It marks a major development for India’s aerospace and heavy logistics sector. During the meeting,…

Paris / New Delhi: The India-France Strategic Partnership is uniquely positioned to steer the next chapter of sustainable, resilient, and innovation-led global economics, Union Finance Minister Nirmala Sitharaman stated on Friday.

Addressing the high-level India-France Business Roundtable in Paris, the Finance Minister detailed the rapidly evolving global landscape—now heavily defined by deep technological transformation, supply chain diversification, energy transitions, and shifting geopolitical realities. She extended a formal invitation to French corporations, institutions, and venture funds to partner with India in its economic journey toward Viksit Bharat 2047, advocating for a highly synchronized bilateral relationship to achieve shared prosperity.

Co-Authoring the Global Artificial Intelligence (AI) Ecosystem

A key pillar of the future India-France relationship lies in deep technology integration. Minister Sitharaman noted that both nations are highly trusted partners capable of jointly shaping the global AI ecosystem.

This alignment unlocks critical bilateral runways across:

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Trusted AI Frameworks: Co-developing secure, unbiased, and ethically governed artificial intelligence architectures.

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Next-Generation Tech: Collaborative research in quantum computing, edge technologies, and high-performance engineering.

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Digital Infrastructure Domination: India's world-renowned Digital Public Infrastructure (DPI)—powered by robust architectures like DigiLocker, the Open Network for Digital Commerce (ONDC), and the foundational India Stack—now accounts for nearly half of the entire planet's real-time digital payments.

Doubling Bilateral Trade & Unlocking Green Investments

Reflecting on long-term commercial momentum, the Finance Minister highlighted that India-France bilateral trade has successfully doubled over the past decade, a growth trajectory reinforced by the active manufacturing and service operations of approximately 1,000 French companies currently rooted in India.

To sustain this velocity, Sitharaman showcased India's massive clean energy transition goals, which are opening multi-billion-dollar entry points for institutional investors.

India's Green Energy Targets Presented to French Leaders:

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Achieving 500 GW of non-fossil fuel capacity by 2030.

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Robust rollouts under the National Green Hydrogen Mission.

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High-yielding Production Linked Incentive (PLI) schemes driving domestic manufacturing.

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Massive infrastructure funding requirements across utility-scale solar, battery energy storage systems (BESS), offshore wind farms, and localized smart grids.

Financial Integration: IFSCA and NIIF Opportunities

For institutional French financiers looking for seamless capital deployment, the Finance Minister pointed to India's premier international financial gateway—GIFT City's International Financial Services Centres Authority (IFSCA).

As of June 2026, the global financial hub has scaled massively, boasting:

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More than 1,200 registered global entities.

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Total banking assets consolidated at $111 billion.

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Cumulative banking transactions crossing $176 billion.

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Rapidly expanding ecosystems across aircraft/ship leasing, fund management, reinsurance, and sustainable green finance.

Furthermore, she highlighted the state-backed National Investment and Infrastructure Fund (NIIF) as an optimal vehicle for long-term capital. French funds can gain direct exposure to India's high-growth assets through NIIF's upcoming investment structures, notably the $3.5 billion Infrastructure Fund II and the $1 billion Private Markets Fund II.

Finally, the Minister urged healthcare and pharma majors to combine their research DNA, utilizing complementary strengths in life sciences, vaccine manufacturing, Active Pharmaceutical Ingredients (APIs), and precision medicine to build highly resilient, shock-proof global healthcare value chains.

Paris / New Delhi: The India-France Strategic Partnership is uniquely positioned to steer the next chapter of sustainable, resilient, and innovation-led global economics, Union Finance Minister Nirmala Sitharaman stated on Friday. Addressing the high-level India-France Business Roundtable in Paris, the Finance Minister detailed the rapidly evolving global landscape—now heavily defined by deep…

New Delhi: In a major push to elevate the combat readiness and technological superiority of the Indian Armed Forces, the Defence Acquisition Council (DAC) has granted Acceptance of Necessity (AoN) for capital acquisition proposals valued at approximately ₹52,000 crore.

The high-level meeting, chaired by Defence Minister Rajnath Singh, fast-tracked critical procurement structures across the Army, Navy, and Air Force. According to the Ministry of Defence, these acquisitions focus heavily on integrating advanced, next-generation indigenous technologies to secure India's tactical dominance.

1. Indian Army: Anti-Drone and Missile Systems

The DAC cleared a comprehensive array of defensive and offensive suites for the Indian Army to counter evolving mechanised and aerial threats.

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AKASH TARANG System: An anti-Unmanned Aerial Vehicle (UAV) electronic warfare network designed to protect front-line Army formations from hostile drone swarms.

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Infantry Upgrades: Procurement of Man Portable Anti-Tank Guided Missile (MPATGM) systems to bolster infantry capabilities against enemy armor.

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Layered Air Defence: Approvals include the Medium Range Surface-to-Air Missile (MRSAM) weapon system for stand-off threats, alongside Very Short Range Air Defence Systems (V-SHORADS) featuring multi-spectral sensing to resist countermeasures.

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Tank Survivability & Lethality: Clearance was granted for Active Protection Systems to shield tanks, alongside jet-based kamikaze drone systems to deliver high-lethality electronic warfare strikes cost-effectively.

2. Indian Navy: Maritime Maneuverability & Propulsion Testing

For the Indian Navy, the approvals target enhanced situational awareness and denying adversaries freedom of movement in critical sea lanes.

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Multi Influence Ground Mines (MIGM): Strategic sea mines aimed at severely restricting enemy naval maneuvers during active conflict.

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Naval Shipborne Unmanned Aerial Systems (NSUAS): Sensor-heavy drone units deployed directly from warships to radically expand the fleet's maritime situational awareness.

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Propulsion Innovation: The establishment of a dedicated, Land Based Testing Facility (LBTF) to test and evaluate high-tech electric propulsion systems and motors for future-generation warships.

3. Indian Air Force: Persistent High-Altitude Surveillance

The Indian Air Force received a significant capability boost aimed at strengthening its long-endurance operational footprint and intelligence gathering.

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Fixed-Wing High Altitude Pseudo Satellites (FW-HAPS): The DAC cleared the procurement of these specialized platforms to maintain persistent Intelligence, Surveillance, and Reconnaissance (ISR).

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Secondary Roles: Beyond direct military spying, the FW-HAPS platforms will provide remote sensing and advanced telecommunications capabilities across deep strategic zones.

New Delhi: In a major push to elevate the combat readiness and technological superiority of the Indian Armed Forces, the Defence Acquisition Council (DAC) has granted Acceptance of Necessity (AoN) for capital acquisition proposals valued at approximately ₹52,000 crore. The high-level meeting, chaired by Defence Minister Rajnath Singh, fast-tracked critical procurement structures across the Army,…

New Delhi: Public sector oil marketing companies (OMCs) incurred a massive financial hit of ₹74,781 crore on the below-cost sale of petrol, diesel, and domestic LPG during the period leading up to June 30. The massive under-recoveries were a direct result of international crude oil prices skyrocketing at the peak of the recent West Asia conflict.

Speaking to reporters, Union Petroleum and Natural Gas Minister Hardeep Singh Puri detailed why state-run refiners continue to feel the financial squeeze despite international markets turning bearish over the last few weeks.

The Procurement Lag: Processing High-Cost Crude

Addressing the current financial health of Indian refiners, Minister Puri explained that while global crude benchmark prices have eased significantly. But oil marketing companies are still actively processing raw inventory purchased at the height of the West Asia crisis.

The Refinement Timeline Explained: -

Advance Procurement: Indian oil companies typically purchase crude oil—the primary feedstock for domestic fuel production—at least two months in advance.

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Delayed Reflection: Consequently, the crude oil being refined and dispatched to retail pumps at present largely reflects expensive cargoes bought back in April and early May. At that time, geopolitical tensions choked international supply corridors.

Will Petrol and Diesel Prices Be Cut?

When questioned on whether the central government or state refiners would pass on relief to retail consumers via fuel price cuts, the Minister indicated that it is too early to make a definitive move.

Minister Hardeep Singh Puri on Price Revisions: "This would be a legitimate question if oil prices stayed low for the next few weeks."

Puri strongly implied that an official retail price reduction would warrant serious policy consideration only if international crude benchmarks sustain their subdued levels consistently over the coming weeks.

International crude prices only began their downward trajectory during the latter half of June. This correction followed a successful diplomatic breakthrough and agreement between the United States and Iran, which effectively resolved the blockade, leading to the reopening of the strategic Strait of Hormuz.

Market Share Trends: PSUs Dominate Fuel Retailing

Despite absorbing these significant short-term under-recoveries to insulate Indian consumers from extreme global inflation, state-run refiners have strengthened their market dominance.

According to data highlighted by the Joint Petroleum Secretary, public sector oil marketing companies recorded a solid 4.57% increase in their combined market share for petrol and diesel retailing over the volatile period. This underscores consumer reliance on state-owned retail networks during global energy disruptions.

New Delhi: Public sector oil marketing companies (OMCs) incurred a massive financial hit of ₹74,781 crore on the below-cost sale of petrol, diesel, and domestic LPG during the period leading up to June 30. The massive under-recoveries were a direct result of international crude oil prices skyrocketing at the peak of the recent West Asia conflict. Speaking to reporters, Union Petroleum and Natural…

India and Russia are stepping up efforts to expand bilateral trade as both countries pursue an ambitious target of USD 100 billion in trade by 2030. The India-Russia trade relationship currently stands at around USD 60 billion. Both governments are working to strengthen economic cooperation across multiple sectors. Kremlin spokesman Dmitry Peskov reaffirmed Russia’s commitment to expanding…

Over the past decade, India tourism has emerged as one of the most powerful drivers of the country’s economic transformation. Far beyond simple leisure travel, the sector acts as a massive economic catalyst—generating millions of livelihoods, boosting small businesses, modernizing nationwide infrastructure, and preserving indigenous heritage.

As the country marches toward its broader Viksit Bharat @ 2047 vision, strategic investments have firmly cemented India's position on the global travel map, making it the world’s eighth-largest tourism economy with a massive $231.6 billion contribution to the national GDP.

Infrastructure Overhaul: Swadesh Darshan and PRASHAD Schemes

At the core of this growth is a shift from isolated regional projects to integrated, large-scale destination development.

1. Swadesh Darshan: Theme-Based Circuits

Launched in 2014, the flagship Swadesh Darshan scheme initially sanctioned 76 projects crossing 15 thematic tourist circuits, injecting over ₹5,000 crore to upgrade connectivity and tourist facilities.

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Swadesh Darshan 2.0: Rolled out in 2022, the revamped phase focuses on immersive, experience-based travel. Notable breakthroughs include the iconic floating log huts at Tehri Lake in Uttarakhand and Mahabharata-themed cultural storytelling setups in Kurukshetra, Haryana.

2. PRASHAD Scheme: The Spiritual Tourism Boom

Spiritual travel remains a primary growth engine for India tourism. Under the PRASHAD initiative, the government has sanctioned 54 projects exceeding ₹1,700 crore. Major pilgrimage sites like Somnath, Srisailam, and Govardhan have undergone extensive civic and sanitation upgrades, turning high footfalls into sustainable economic opportunities for local communities.

Global Competitive Rankings and Digital Reforms

India’s global tourism footprints have expanded dramatically between 2014 and 2025, recording 181.25 million international arrivals. In 2024 alone, the nation logged 20.6 million international arrivals, pushing India's global ranking up to 20th in the world—a significant jump from the 25th spot held in 2016.

Key Policy and Digital Accelerators: -

e-Tourist Visa Expansion: Streamlined entry barriers, making international travel booking hassle-free.

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The UDAN Scheme & Vande Bharat: Regional air connectivity and high-speed rail modernization have made remote destinations easily accessible.

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NIDHI & NIDHI Plus Platforms: Digitalized registration and compliance for hospitality operators, drastically boosting transparency across the ecosystem.

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MICE Tourism Surge: India’s high-profile G20 Presidency successfully showcased diverse cultural hubs, positioning the country as a premium global destination for corporate meetings, conferences, and exhibitions.

Sustainability and Alternative Experiences Take Center Stage

To proactively combat the global threat of overtourism, India has systematically pivoted toward niche, eco-conscious travel products. Through the Travel for LiFE (Lifestyle for Environment) initiative, responsible tourism is being actively promoted at the grassroots level.

Global Green Recognition: Mamallapuram proudly became the first UNESCO World Heritage Site in South Asia to secure the prestigious Green Destinations Silver Certification for sustainable management.

Additionally, the government's Challenge-Based Destination Development (CBDD) initiative has funneled ₹697.94 crore into 38 green projects, including the Panidihing Bird Sanctuary in Assam and the Nizam Sagar Reservoir Eco-Tourism Project in Telangana.

Investing in Human Capital: Skilling the Workforce

Realizing that world-class travel experiences rely on professional hospitality, extensive upskilling projects have been deployed.

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Capacity Building: Between 2014 and 2025, more than 4.5 lakh individuals received specialized training under the Capacity Building for Service Providers Scheme.

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Budget 2026-27 Boost: The latest Union Budget has fast-tracked this agenda, proposing the creation of a premier National Institute of Hospitality and the immediate upskilling of 10,000 certified tourist guides at iconic national locations.

The Road Ahead: Projecting the Future

With more than 100 major travel destinations completely modernized over the last decade, the government is currently executing plans to aggressively upgrade 50 more key locations to a world-class global scale.

According to long-term projections by the World Travel & Tourism Council (WTTC), India's trajectory is set to accelerate sharply. Driven by a revitalized Incredible India outreach campaign, strategic international roadshows, and deep digital integration, India is confidently on track to surpass its peers and emerge as the fourth-largest tourism economy in the world over the coming decade.

Over the past decade, India tourism has emerged as one of the most powerful drivers of the country’s economic transformation. Far beyond simple leisure travel, the sector acts as a massive economic catalyst—generating millions of livelihoods, boosting small businesses, modernizing nationwide infrastructure, and preserving indigenous heritage. As the country marches toward its broader Viksit…

New Delhi: Independent power producer Juniper Green Energy has officially announced the commissioning of a massive 5 MW wind turbine project. The company claims that the newly operational system represents the largest wind turbine ever installed in India to date in terms of its massive rotor size. This development pushes the boundaries of renewable energy technology in India.

The strategic deployment marks a technological milestone for India's domestic wind energy landscape. It shows how the industry is rapidly transitioning toward higher-capacity, ultra-efficient turbine platforms to lower the overall levelised cost of green electricity.

Technical Specifications: The Giant EN-182 Platform

The newly commissioned clean energy asset is built around Envision’s state-of-the-art EN-182 wind turbine generator (WTG) platform.

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Power Capacity: Features a robust power generation rating of 5 MW.

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Rotor Diameter: Spans a massive 181 metres, maximising wind capture area and significantly increasing electricity output even in moderate or low-wind corridors.

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Blade Dimensions: The colossal setup features individual aerodynamic turbine blades stretching approximately 89 metres in length. It demands complex engineering and highly precise freight management to successfully transport across regional terrain.

Scaling India’s Green Footprint

The successful installation of the 5 MW giant is part of a broader capacity scaling strategy implemented by the firm to expand its renewable energy operational portfolio.

As part of this deployment wave, Juniper Green Energy has also added 82 MW of fresh wind power capacity across vital project sites. These capacity expansions are strategically spread out across the Barmer district of Rajasthan, alongside the high-potential Surendranagar and Rajkot districts of Gujarat.

Company Strategic Vision: As an independent power producer (IPP), Juniper Green Energy remains aggressively focused on the full life-cycle development, engineering, construction, and operation of utility-scale solar, wind, and complex multi-source hybrid projects across India's fastest-growing energy markets.

The company's growing green asset fleet recently hit another milestone with the parallel commissioning of 305 MW of clean capacity across separate projects in Gujarat.  It complemented the operational initiation of India's very first Firm and Dispatchable Renewable Energy (FDRE) installation located in Rajasthan.

New Delhi: Independent power producer Juniper Green Energy has officially announced the commissioning of a massive 5 MW wind turbine project. The company claims that the newly operational system represents the largest wind turbine ever installed in India to date in terms of its massive rotor size. This development pushes the boundaries of renewable energy technology in India. The strategic…

The World Bank has approved USD 1.5 billion financing to support India’s economic reforms and accelerate private sector-led job creation. The World Bank loan aims to strengthen structural reforms that encourage investment, entrepreneurship and long-term economic growth across the country. The Board of Executive Directors approved the financing under the Boosting Job Creation in the Private Sector…

Kolkata / New Delhi: Marking a historic milestone in India's indigenous defense manufacturing journey, Prime Minister Narendra Modi simultaneously commissioned three major warships into the Indian Navy at Kolkata.

The simultaneous commissioning of three complex surface combatants designed and constructed by a single shipyard is a first for India. The mega naval event unfolded in the presence of West Bengal Governor R N Ravi, Chief Minister Suvendu Adhikari, and Chief of the Naval Staff Admiral Krishna Swaminathan.

The trio of frontline vessels—INS Dunagiri, INS Sanshodhak, and INS Agray—underscores the rapidly expanding capabilities of Garden Reach Shipbuilders & Engineers Ltd (GRSE) under the government’s Aatmanirbhar Bharat initiative.

Meet the Trio: A Powerful Boost to India’s Naval Fleet

Each of the three newly commissioned warships brings highly specialized, high-tech combat and strategic capabilities to the Indian Navy.

Advanced Guided-Missile Survey Vessel Anti-Submarine Warfare Stealth Frigate (Large) Shallow Water Craft 1. INS Dunagiri (Advanced Guided-Missile Frigate) -

Project Class: The second Advanced Guided-Missile Frigate built by GRSE under the elite Project 17A.

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Weaponry: Loaded with lethal BrahMos anti-ship and land-attack supersonic cruise missiles.

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Impact: Features state-of-the-art stealth geometry and advanced defensive suites, drastically expanding the Navy's blue-water offensive reach.

2. INS Sanshodhak (Survey Vessel Large) -

Project Class: The fourth and final massive vessel in the Survey Vessel (Large) series.

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Capabilities: Purpose-built for hydrographic surveys, navigation channel mapping, and oceanographic data gathering.

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Secondary Role: Optimized to deploy for critical Humanitarian Assistance and Disaster Relief (HADR) operations across the Indian Ocean Region (IOR).

3. INS Agray (Anti-Submarine Shallow Water Craft) -

Project Class: One of eight specialized anti-submarine warfare (ASW) shallow-water platforms.

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Weaponry & Systems: Packed with modern combat management systems, lightweight torpedoes, anti-submarine rockets, and a 30 mm naval gun.

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Indigenisation: Boasts an incredible 88 percent indigenous content, optimized specifically for coastal sub-surface warfare.

GRSE: India’s Leading Indigenous Warship Producer

With the successful triple delivery of these combat vessels, GRSE has now built and delivered 118 warships—including 80 specifically commissioned for the Indian Navy—cementing its position as the country's most prolific defense shipyard.

Prime Minister Narendra Modi Highlighted: "The commissioning of these three vessels reflects India's growing self-reliance in defense manufacturing. Built with the contribution of domestic industries, engineers, and workers, they represent the strength of a new, self-reliant India."

Chief of the Naval Staff Admiral Krishna Swaminathan reiterated that GRSE remains a deeply trusted partner in safeguarding maritime boundaries, emphasizing that the tri-commissioning proves India's technological jump in heavy shipbuilding.

The Road Ahead: 90% Indigenisation & Export Goals

GRSE revealed that its frontline warships now integrate more than 90 percent indigenous equipment. The Defense PSU is aligning its master strategy with Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047 by weaponizing AI, digitizing shipyards, and deploying sustainable building practices.

The shipyard’s robust pipeline currently features:

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One remaining Project 17A advanced stealth frigate.

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Four Anti-Submarine Warfare Shallow Water Crafts.

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Four Next-Generation Offshore Patrol Vessels (NGOPVs).

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30 additional vessels, including 13 export platforms destined for international navies.

New Delhi:  India has officially emerged as the world's top ship recycling nation. It is a major milestone for the country's maritime sector. According to the latest data released by the United Nations Conference on Trade and Development (UNCTAD), India captured the highest global market share in 2025. The nation beat its long-term policy targets half a decade ahead of schedule.

The official data reveals that India's global share in the shipbreaking and recycling industry jumped significantly to 35.4 percent in 2025.  Its share was 30.1 percent in 2024.

Charting the Surge: Volume and Vision

The operational turnaround is spectacular. It is driven by aggressive capacity expansion and processing efficiency.

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The Tonnage Jump: Ship recycling volumes in India skyrocketed to 2.99 million gross tonnes (GT) in 2025, up nearly 60 percent from the 1.86 million GT handled in 2024.

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MIV 2030 Target Smashed: With this surge, India has achieved the baseline goal set under the Maritime India Vision (MIV) 2030—to establish global leadership in the recycling sector. It achieved the goal five years ahead of its 2030 timeline.

Union Minister Speaks: Celebrating the breakthrough, Sarbananda Sonowal, Minister for Ports, Shipping & Waterways (MoPSW), stated: "India's emergence as the world's top ship recycling nation reflects the success of sustained policy reforms, industry efforts, and a strict adherence to international environmental and safety standards."

The Strategic Reforms Behind the Success

India’s ascent to the global top spot is not accidental. It is the result of a highly coordinated strategy bridging regulatory policy, financial incentives, and strict environmental compliance:

1. The Hong Kong Convention Aligned Ecosystem

India enacted the landmark Recycling of Ships Act, 2019, strictly aligning domestic recycling yards with the safe and sustainable protocols of the Hong Kong International Convention (HKC). Backed by ₹53.5 crore in targeted government moderniasation funding, 115 Indian recycling facilities are now fully HKC-compliant.

2. The Ship-Breaking Credit Note Scheme

To incentivise international ship owners, MoPSW rolled out a unique dual-benefit credit system. Under this scheme, ship owners receive a credit note equivalent to 40% of the scrap value of their recycled vessel. This credit note can subsequently be used to offset up to 5% of the cost of building an entirely new vessel at an Indian shipyard. This simultaneously boosts both domestic recycling and domestic shipbuilding.

3. Expansion Plans at Alang Yard

The state government of Gujarat has formalised a master plan to nearly double national capacity to 9 million light displacement tons (LDT) by aggressively expanding infrastructure at the world-famous Alang Ship Recycling Yard.

Global Ship Recycling Leadership (2025) Metric / Indicator FY 2024 FY 2025 (Current) Growth / Impact Global Market Share 30.1% 35.4% +5.3% (World Leader) Recycling Tonnage 1.86 Million GT 2.99 Million GT +60% Volume Surge MIV 2030 Goal On Track Smashed Early Achieved 5 Years Ahead of Schedule Key Strategic Hub Alang-Sosiya (GJ) Alang-Sosiya (GJ) 115 Yards Now HKC-Compliant

Future Outlook: A Circular Economy Pioneer

The global outlook for the industry remains heavily in India's favour. Estimates from the Baltic and International Maritime Council (BIMCO) project that the next decade will see more than 16,000 vessels decommissioned and recycled globally.

New Delhi:  India has officially emerged as the world’s top ship recycling nation. It is a major milestone for the country’s maritime sector. According to the latest data released by the United Nations Conference on Trade and Development (UNCTAD), India captured the highest global market share in 2025. The nation beat its long-term policy targets half a decade ahead of schedule. The official data…