The crew consisted of 20 Chinese nationals, three Myanmar nationals, and one Bangladeshi, the Indian Coast Guard said.
The Indian Coast Guard has launched a search and rescue operation off the coast of eastern India after a cargo ship sank in the Bay of Bengal.
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According to the Coast Guard, the MV Ocean Winner vessel issued a distress alert while southeast off the port of Paradip on Saturday before contact was lost.
Two of the 24-strong crew have been rescued from life rafts, while the Coast Guard has deployed three ships to carry out surface searches for the remaining crew members.
The crew consisted of 20 Chinese nationals, three Myanmar nationals, and one Bangladeshi, the agency said.
The cause of the sinking is not yet clear.
Sarbananda Sonowal, India's Minister of Ports, Shipping and Waterways, said the Panama-flagged vessel had been carrying iron ore from the port of Paradip to China when it sank.
"All agencies are coordinating closely and actively doing search and rescue efforts. 2 survivors have been successfully rescued and are being given medical care; their rank and identity are currently being verified," he wrote in a post on X.
"My prayers for the safety of the remaining crew," he added.