NASSCOM: Web3 will add to GDP India $1.1 trillion – Bits Media

Indian National Association of Software and Service Companies (NASSCOM) reported, that income from Web3 increased in 37 Once in two years.

Nasscom reports, that the total number of web3 startups in India since the beginning 2020 initially 2022 has reached more years 450, which attracted more $1.3 billion. Average transaction in 2021 The year was about $10 million, Then in the Indian space web3 was more 70 active institutional investors:

“In 2015–2017, with the launch of the Ethereum and the global growth of Web3 companies, they focused on India. But the phenomenal growth of the industry showed in 2020–2021 after the lifting of a national ban on cryptocurrency ".

At the same time, Nasscom warns, that web3 companies expect problems subject to legislation.

“However, Indian startups Web3 see serious obstacles to expansion due to the lack of clarity of regulation and policy, which jeopardizes the competitive advantage of India ", - The report says.

According to Nasscom, Web3 will change the rules of the game for the economy, By combining ecosystem partners, To take the right steps to develop the industry at an early stage.

“The rapid introduction of the latest technologies India, Its growing ecosystem of startups and the large -scale potential of qualified specialists in the field of digital technology strengthen the country's position in the global landscape of Web3 ", - said in the message Nasscom.

The association drew attention, that companies are just entering the Web3 market. But they already provide significant progress, leading to innovative options for using and strengthening a positive impact on the country's economy.

Indian Institute of Technology (IITs) last month reported, What will cooperate with the TimesPro online learning platform to create blockchain learning programs, cryptocurrencies, NFT и Web3.