India to Become the World’s Largest Web3 Developer Hub by 2028
"India is set to become the world’s largest Web3 developer hub by 2028, with rapid growth in blockchain innovation, developer participation, and startup investments. Read more about India's Web3 revolution."
Bengaluru: India is rapidly establishing itself as a global powerhouse in the Web3 ecosystem, with projections indicating that it will become the world’s largest Web3 developer hub by 2028. According to the latest “India Web3 Landscape” report released by Hashed Emergent on Tuesday, India recorded the highest year-on-year (YoY) growth in Web3 developer participation in 2024.
The report highlights that India added more than 4.7 million developers to GitHub, accounting for 17% of all new Web3 developers worldwide. This milestone has positioned India as the second-largest crypto developer base globally, trailing only the United States.
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India’s Thriving Web3 Developer Ecosystem
The report sheds light on the areas where Indian developers are making significant contributions. Among Web3 developers in India:
- 45.3% contribute to coding and software development.
- 29.7% focus on fixing bugs and improving existing blockchain-based solutions.
- 22.4% work on documentation and other developmental aspects.
The most popular areas of Web3 development in India include blockchain gaming, non-fungible tokens (NFTs), decentralized finance (DeFi), and real-world assets (RWAs). Notably, over 50% of Indian Web3 developers have entered the space within the last two years, with most of them being under the age of 27. This highlights the growing enthusiasm among young tech professionals for blockchain technology and decentralized applications.
Hackathons and University Collaborations Driving Growth
One of the primary gateways for Indian developers into the Web3 space has been hackathons—intensive coding events where developers collaborate to create blockchain-based solutions. Additionally, Web3 companies are actively working with educational institutions to introduce students to blockchain technology at an early stage. Leading universities in Odisha, Bhubaneswar, Chennai, and Kerala have started integrating blockchain courses into their curriculum, further accelerating India’s Web3 talent pipeline.
India’s Web3 Industry Attracting Global Investment
India has also emerged as a top destination for Web3 investments and blockchain startups. The country currently ranks third globally in terms of Web3 startup founders, with over 1,200 active startups in the sector. Investor confidence in the Indian Web3 ecosystem has skyrocketed, leading to a 109% increase in funding compared to 2023. In 2024 alone, Indian Web3 startups secured $564 million in investment, pushing the total sector funding beyond $3 billion.
Key investment areas include:
- DeFi Applications – Staking solutions, tokenization platforms, and decentralized exchanges.
- Artificial Intelligence (AI) Integration – Leveraging AI to enhance blockchain solutions.
- Real-World Assets (RWAs) – Tokenization of physical assets on the blockchain.
- Layer 1 and Layer 2 Blockchain Networks – Infrastructure development for scaling Web3 applications.
Several global venture capital firms and homegrown investors are pouring capital into Indian Web3 projects, recognizing the country’s immense potential in blockchain innovation. Ecosystem funds from Layer 1 and Layer 2 blockchain networks have also made substantial investments, further solidifying India’s standing as a leading force in Web3 adoption.
Government and Enterprise Adoption of Web3 Solutions
Industry experts believe that India’s rapid progress in Web3 is fueled by a unique blend of technological agility, entrepreneurial spirit, and high digital adoption rates. According to Tak Lee, CEO & Managing Partner at Hashed Emergent, “We now see renewed retail participation, shifting investor trends, and deeper integration of Web3 solutions by enterprises and the government.”
Several Indian enterprises and government agencies are exploring blockchain-based solutions for supply chain management, identity verification, and digital asset management. This shift indicates a broader acceptance of blockchain technology beyond the crypto industry, paving the way for India’s dominance in the decentralized internet revolution.
