Web3 devs, gamers, investors thrive despite India’s crypto policy hurdles

India’s Web3 ecosystem, driven by Gen Z developers, saw rapid growth in 2024, with investments surging 224% despite stringent crypto tax policies.

India’s contribution to the global Web3 ecosystem — primarily in software development, gaming, investments and startup funding — increased year-on-year despite an absence of locally tailored crypto regulations.

India’s share of global Web3 developers grew from 5% to 12% in the last 10 years, second only to the United States as of 2024, according to the India Web3 Landscape Report 2024 by Hashed Emergent, shared with Cointelegraph.

Developer growth in India since 2015. Source: Hashed Emergent

Read more