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
Speaking to Cointelegraph, Tak Lee, CEO and Managing Partner at Hashed Emergent, pointed out four key factors driving India to the top of global crypto adoption: retail crypto transactions on centralized services, highest trading volumes, institutional adoption and retail DeFi transactions.
Gen Z dominates the Web3 developer landscape in India
The growth is driven by the younger generation, as roughly 80% of all blockchain developers in India are between 18 and 27 years of age. The Indian developers in