India Emerges as Global Frontrunner in Web3 Space, Poised to Impact $1 Trillion Industries by 2029
National: A new report by Primus Partners reveals that India is rapidly emerging as a global leader in the Web3 space, with the technology expected to impact industries valued at over $1 trillion by 2029.
The report, titled ‘Web3 in 2025: Key Trends and Potential Use Cases to Watch Out For’, highlights India’s growing importance in driving Web3’s global evolution, with the country leading the global Web3 developer community with a 12% share.
Web3 is revolutionizing sectors such as agriculture, healthcare, logistics, and media, with its decentralized solutions enabling greater transparency, security, and efficiency in operations.
Key insights from the report include:
- The global Web3 market is projected to reach $23.3 billion by 2028, growing at a CAGR of 43.7% from 2021.
- India has attracted the highest number of new crypto developers in 2024.
- Major platforms and developing ecosystems like Polygon have received over $450 million in funding.
- Regulatory developments, such as the EU’s MiCA regulation, are shaping the Web3 crypto framework.
The report also highlights the potential applications of Web3 across various industries, including agriculture, manufacturing, logistics, education, real estate, governance, and healthcare.
Shravan Shetty, a thought leader, noted, “India’s proactive steps in nurturing Web3 adoption are pivotal in providing the infrastructure needed to support permissioned blockchain applications and drive innovation.”
