With the adoption of the new legislation is expected to win at least 60 percent of the global business of shipbreaking and to become the main destination for the military and other vehicles.
According to industry Minister Lal Mansukh of Mandavia in the near future the income from ship recycling will bring to the country's GDP is not less than 2,2 billion US dollars, almost twice the current level.
India currently processes about 300 of the 1,000 vessels each year are written off to the scrap around the world.
However, some countries such as Japan, Europe and the United States, did not send their ships for recycling in India in the absence of ratification of a global Convention. This scenario may change in accordance with the adoption by India of the "Law on recycling of ships" from 2019.
Law ratifies Hong Kong Convention and facilitates the process of ship recycling, creates favorable conditions for the protection of the environment and ensures proper safety of the workers.
"the United States and other countries do not send their ships to India for recycling, but now that we have ratified the Hong Kong Convention, we expect that their number will increase," - said the Minister in an interview PTI.
"India, Bangladesh, China and Pakistan provide the processing of about 90 percent of the world's ships. India currently stands at 30 percent, and shall not be less than 60 percent," he said.
in addition, the Minister said there are 53 000 merchant ships, and from them each year is recycled for scrap about 1,000.
"as a result of the adoption of the Law on recycling of ships, ten percent of the needs of the steel industry as a scrap will be met eco-friendly way," said the Minister, adding that the direct jobs in the recycling sector is likely to double, reaching approximately 90,000 people.
