India’s fleet expansion has lagged China, other Asian peers

India lags Asian peers in ship ownership

India’s goal of emerging as a major maritime power faces a significant capacity constraint, with its merchant fleet growth trailing far behind global peers such as China, Indonesia, and Vietnam, despite policy initiatives like Maritime India Vision 2030 aimed at strengthening the country’s shipping ecosystem.

Fleet Growth Trails

As of 2025, India has around 1,244 vessels under beneficial ownership, according to UNCTAD data; barely one-eighth of China’s 10,440 ships.

While China’s fleet has more than doubled since 2016, India’s has expanded by only 30 percent in the same period, underscoring the scale of the gap that New Delhi must bridge to achieve its maritime ambitions.

By comparison, Vietnam’s merchant fleet expanded 134 percent over the last decade, while Indonesia’s grew 51 percent and the UAE’s by 92 percent.

Tonnage Expands Faster

In capacity terms, India’s shipping tonnage has grown faster than the number of ships but remains well below the global leaders.

The deadweight tonnage (DWT) of Indian-owned vessels rose from 21.8 million tonnes in 2016 to 37 million tonnes in 2025, a 70 percent rise.

China’s fleet, meanwhile, recorded a 120 percent increase to 347 million tonnes over the same period, Indonesia’s went up by 92 percent, whereas the UAE’s increased more than threefold.

Global Fleet Expands, India Keeps Pace

The global merchant fleet reached 60,275 vessels in 2025, up 22 percent from 2016. India’s ship count has grown broadly in line with the global average but remains too small to match its trade scale and strategic aspirations.

Countries such as Greece (5,124 vessels) and Singapore (2,922 vessels) continue to dominate global shipping through sustained investment in fleet modernisation, logistics hubs, and ownership of large international carriers.