A Vikrant Memorial was unveiled by Vice Admiral SPS Cheema, Flag Officer Commanding-in-Chief, Western Naval Command & Shri Ajoy Mehta, Municipal Commissioner, Municipal Corporation of Greater Mumbai on 25 January 2016. The memorial is located on a traffic island at K Subash Marg, opposite Lion Gate, Naval Dockyard (Mumbai). Commodore Medioma Bhada (Retd), of the Vikrant Memorial Forum and an ex-pilot of Vikrant explained to those present that the memorial is a sculpture created with pieces of metal recovered from the ship-breaking yard and belonged to the decommissioned ship.