India’s Workforce Size For Web3 Ranks Number 3 On A Global Scale

An India-based non-profit organization NASSCOM has recently issued a report revealing the talent the country has for Web3.

NASSCOM, which has more than 3,000 members, has made a huge claim about the Web3 talent, currently there in India.

NASSCOM’s New Study

NASSCOM has revealed that it recently carried out a study within India to establish where the adoption of Web3 stands.

The firm has published its research revealing that India’s Web3 talent is contributing tremendously to the global Web3 industry.

The Web3 talent in India amounts to 11% of the total talent for Web3 in the entire world. The research shows that India has great potential for the development of Web3 projects and platforms.

It also makes it clear that India would have a huge role to play in the worldwide expansion of the Web3 industry. The country may increase its influence over the Web3 sector with a higher talent percentage.

India Ranked Among Top 3

The research conducted by NASSCOM confirms that India now ranks as the third-largest country in the world in terms of having a workforce in Web3.

According to the data, the Web3 industry has 75,000 Web3 and blockchain professionals currently serving from India.

There is a great surge in the employment rate in a particular sector in India. The research has predicted that in the next couple of years, the Web3 talent base in India would rise by 120%.

Land of Web3 Startups

In addition to producing a great amount of talent, India has also introduced several hundreds of Web3 startups in the country.

According to an estimate, there are more than 450 startups in the Web3 industry that have been launched in India so far.

Out of the mentioned startups, there are a bunch of Web3 companies that are unicorns, which means their valuation is over a billion dollars.

Indian Web3 Ecosystem Keeps Rising

As per the study from NASSCOM, the Web3 ecosystem in India has already raised a tremendous amount of money. The report confirms that the overall funds raised by the Web3 platforms in India are $1.3 billion.

The data also shows that out of the total Web3 startups in India, 60% have already expanded themselves. More than 60% of the total Indian Web3 startups have already expanded out of India.

The country is now expanding its footprint in the Web3 sector all over the world. With the interest the country is taking in Web3, it is only a matter of time before India becomes the biggest hub for Web3.

This means that India would eventually prove its might in the metaverses, gaming NFT marketplaces, decentralized finance, and more.

India is also set to increase and improvise in the on-chain coordination mechanisms to make the industry highly promising for users.