Report Claims India the World’s Third-Largest Regarding Its WEB3 Workforce

Report Claims India the World’s Third-Largest Regarding Its WEB3 Workforce.

The National Association of Software and Services Companies (NASSCOM), a nonprofit organization in India with over 3,000 members, recently published a study claiming that India has 11% of the world’s Web3 talent.

Home of Four Web3 Unicorn Companies

As of today, nearly 75,000 blockchain professionals work in India, making it the third-largest nation in terms of its Web3 workforce. It is predicted that the talent pool in the next two years will increase by over 120%.

A total of 450 Web3 startup companies have been registered in India, of which four are unicorn companies, and the Indian Web3 eco-system has raised $1.3 billion in funding through April 2022. Moreover, more than 60% have expanded their footprints overseas.

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Several of the companies listed in the study are building applications related to decentralized finance, gaming non fungible tokens, metaverses, decentralized communities, on-chain coordination mechanisms and more.

Previously, an accelerator program for Web 2.0 and Web 3.0 startups and blockchain developers was launched by Telangana recently as it aims to tackle real-world issues through early-stage Web 2.0 and Web 3.0 startups.

Optimist About The Growth of Web3

According to NASSCOM, in the next few years the number of Indian internet users is expected to increase by 150 million and the number of 5G users in India is expected to increase by 500 million.

President of the NASSCOM, Debjani Ghosh said, “India’s rapid adoption of new-age technologies, its growing startup ecosystem, and large-scale digitally skilled talent potential is cementing the country’s position in the global Web3 landscape.”

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Ghosh further explained, “It is heartening to see that industry and government stakeholders in India are taking a very pragmatic approach toward blockchain tech, with use cases being explored in areas ranging from health and safety, finance, enterprise tech and land registry to education.”

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Jamilatul Mahmudah

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