India’s Growing Maritime Role

As the world’s most populous country and fifth largest economy, India holds a growing role on the global stage. Within parts of the maritime ecosystem, development has been mixed, lagging potential. But as a key hub for operations and crewing, and now the largest seaborne importer after China, ambitions to further develop fleet, ports & shipbuilding have renewed government support.

Shipping Heritage 

With a population of 1.5 billion, India is the world’s fastest growing major economy (2025f: +7%), and on track to become the third largest globally by 2030. Against this backdrop, India’s role in maritime is evolving, with the government increasing strategic focus on the sector. India is already the fifth largest source of seafarers (~12% of world total, government target ~20%). And India has for many decades been a prominent recycling destination, with facilities handling a third of tonnage recycled 2004-24. In 2024, India ranked second for volumes (~30% share) but Indian recyclers also seem to be leading Bangladesh and Pakistan in preparing facilities for compliance with the HK Convention green treaty (in force from June 2025).

Published by Clarksons.

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