India is rapidly emerging as a global leader in the Web3 sector, with projections indicating that it will become the largest hub for Web3 developers by 2028. A recent report, the ‘India Web3 Landscape’ released by Hashed Emergent, highlights the country’s impressive growth, with over 4.7 million developers joining GitHub in 2024 alone, representing 17 percent of all new Web3 developers globally. India now ranks as the second-largest base for crypto developers, with the report showing that 45.3 percent of Indian Web3 developers are actively coding, while 29.7 percent focus on bug fixes and 22.4 percent engage in documentation.
Key focus areas for Indian Web3 talent include gaming, non-fungible tokens (NFTs), decentralized finance (DeFi), and real-world assets (RWAs). A significant portion of developers is new to the Web3 space, having entered within the last two years, and the majority are under the age of 27. Hackathons serve as a common entry point for aspiring developers, and Web3 firms are increasingly collaborating with universities in regions such as Odisha, Bhubaneswar, Chennai, and Kerala to introduce blockchain technology early in students’ education.
According to Tak Lee, CEO & Managing Partner at Hashed Emergent, India’s unique blend of technological capabilities, entrepreneurial spirit, and widespread digital adoption is driving this growth. The country ranks third globally in the number of Web3 startup founders, with over 1,200 startups in the sector. Investor confidence is also on the rise, with a remarkable 109 percent increase in funding compared to 2023, totaling $564 million in 2024 and over $3 billion in the sector to date. The report highlights AI, RWAs, and staking solutions as key investment areas, with both global venture capital and local firms making significant investments in Indian Web3 projects, bolstering India’s position in the global Web3 landscape.
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