India is on track to become the world’s largest hub for Web3 developers within the next four years, according to a new industry report.
The India Web3 Landscape report, published by Hashed Emergent, highlights the country’s explosive growth in blockchain and decentralized technologies. In 2024 alone, over 4.7 million Indian developers joined GitHub, making up 17% of all new Web3 talent worldwide.
Currently, India ranks as the second-largest base for crypto developers globally, with its talent pool focusing on key areas such as gaming, non-fungible tokens (NFTs), decentralized finance (DeFi), and real-world assets (RWAs).
The report reveals that:
- 45.3% of Web3 developers in India focus on coding,
- 29.7% work on bug fixes, and
- 22.4% contribute to documentation.
A significant portion of India’s Web3 workforce is young and relatively new, with more than half entering the sector in the last two years and the majority being under 27 years old.
Hackathons and collaborations with universities in Odisha, Bhubaneswar, Chennai, and Kerala have accelerated Web3 adoption, introducing students to blockchain technology early in their careers.
“India’s mix of technological agility, entrepreneurial spirit, and rapid digital adoption is driving this momentum,” said Tak Lee, CEO & Managing Partner at Hashed Emergent. “We are witnessing a new wave of retail participation, shifting investment trends, and increased enterprise and government adoption of Web3 solutions.”
The country is also a global leader in Web3 startup activity, ranking third in the number of startup founders. India currently boasts over 1,200 Web3 startups, and investor confidence is soaring, with a 109% increase in funding compared to 2023. In 2024 alone, Indian Web3 startups raised $564 million, pushing total sector funding beyond $3 billion.
Artificial intelligence (AI), RWAs, and staking solutions are fueling investor interest, with both global venture capital firms and domestic backers doubling down on India’s Web3 ecosystem. Contributions from Layer 1 and Layer 2 blockchain networks are also playing a key role in strengthening India’s position as a global blockchain powerhouse.
