Key Takeaways
- According to Web3 statistics, India is the third-largest country in the world, with over 75,000 people now working as blockchain specialists.
- This information is based on recent research conducted by the nonprofit National Association of Software and Services Companies.
According to Web3 statistics, India is the third-largest country in the world, with over 75,000 people now working as blockchain specialists. This information is based on recent research conducted by the nonprofit National Association of Software and Services Companies.
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India ranks third in the world in terms of Web3 workforce size: Report
According to NASSCOM, a recently released report with stats reveals that the nation boasts over 11% of the world's Web3 talent, making India the industry titan in this field. The sector association also forecasts that during the following two years, the skill pool will increase by nearly 120%.
Additionally, there are over 450 Web3 startups in the country, four of which are privately owned businesses worth over $1 billion but not yet listed on a stock exchange (unicorn companies). Over 60% of the nation's Web3 startups are extending their operations and their presence outside of the country, and the sector's investment has increased significantly to over $1.3 billion since the month of April this year.
Numerous businesses and organizations are creating apps that are primarily focused on decentralized banking, the NFT gaming sector, decentralized communities, virtual worlds and metaverses, and a whole lot more.
Throughout the next few years, Web3 will expand and flourish in the nation, according to NASSCOM. According to Debjani Ghosh, president of NASSCOM, the nonprofit organization highlighted their growth aspirations, stating that they anticipate a massive rise in people using the Internet to over 150 million and an increase in the number of 5G users to over 500 million.
India's place in the global Web3 scene is being cemented by the country's quick embrace of new technological advances, its expanding startup environment, and its immense potential pool of digitally competent personnel.
It is encouraging to see that business and government players in India are approaching blockchain technology very pragmatically, with use cases being investigated in everything from land registration to education to health and safety, banking, and industrial IT.
