India’s rapid adoption of newage technologies, its growing startup ecosystem, and the large-scale digitally skilled talent potential are all the right building blocks for India to emerge as a key player in the global Web3 landscape.

India lead web3
Times of india

One of the first countries to support Web 3.0 technology was India. India now has more than 230 Web 3.0 start-ups, according to the Cryptotech industry in India 2021 research by NASSCOM and WazirX.

With the number of active internet subscribers in India being upwards of 750 million and a burgeoning talent in Web3, India is poised to harness the crypto space to catapult its economy into the stratosphere. The economic growth of Web3 businesses is projected to add US$1.1 trillion to India’s GDP by 2032

India fast emerging as a sizeable Web3 ecosystem: Role of tier2 and tier 3 cities. “India has a rapidly-growing Web3 ecosystem with more than 450 active start-ups in the space that raised $1.3 billion in funding until April, Nasscom said in a recent report.

Web3 technology, such as blockchain, allows for the creation of decentralized networks and platforms that enable peer-to-peer transactions and interactions without the need for intermediaries. This can lead to a more equitable distribution of power and resources.

In all, we think India will overtake Germany and Japan to become the third-largest economy in the world within the next decade.” A key part of India’s continued rise will be its ability to grow its manufacturing sector and challenge China as the world’s No 1 exporter.

Well before 2030, India will be the world’s third largest economy and, thereafter, the world’s second largest economy by 2050.” In purchasing power parity (PPP), India’s share of global GDP will be north of 20% by 2050.

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