India To Become Web3 Hub, Set To Impact Trillion Dollar Industries By 2029

A recent Primus Partners report, 'Web3 in 2025: Key Trends and Potential Use Cases to Watch Out For,' mentions India's sudden rise as a global Web3 innovation hub and is also poised to cross USD 1 trillion by 2029.

The report finds that Web3 technologies led by blockchain have the potential to revolutionise industries worth more than USD 1 trillion by 2029 and change sectors like agriculture, healthcare, logistics, media, manufacturing, education, real estate and government.

Web3's decentralised network is accompanied by greater transparency, security and operational efficiency. Over 60 per cent of Indian firms alone are researching or implementing blockchain-based solutions to enhance processes, facilitate trust, and cut costs.

India to become Web3 hub

The report also reveals that India is the global leader in Web3 developer community size at 12 per cent and had the largest number of new crypto developers in 2024. This pool of talent is fueling innovation and mass adoption across sectors.

Global market estimates are also encouraging. The report estimates the Web3 market to grow to USD 23.3 billion by 2028 at a compound annual growth rate of 43.7 per cent from 2021. Leading platforms like Polygon have raised more than USD 450 million in funding, and companies like 5ire have raised USD 221 million to further blockchain interoperability and scalability.

Regulatory development is paving the way for broader adoption. The MiCA regulation in the European Union is creating a master regimen for over 500 million citizens, and a US crypto task force stands poised to regulate digital assets worth USD 1 trillion. 

As a result, global business enterprise utilisation of Web3 is expected to rise dramatically from 5 per cent in 2022 to 25 per cent by the end of 2025. Use in the concrete industry shows the transformative potential of Web3. 

In agriculture, blockchain cuts food fraud by 30 per cent, whereas in manufacturing and transportation, it would cut costs by as much as 20 per cent and paperwork by 50 per cent. Education would be helped by secure digital authentication of qualifications, and property would have lower transaction costs by 10–15per cent and more efficient processes by 50 per cent. Government and healthcare would have blockchain digital identities and security protocols that could revolutionize citizen services and cut fraud by 50 per cent.

India's government is supporting these initiatives with initiatives such as the Blockchain-as-a-Service model and industry-specific initiatives such as Vishvasya and the National Blockchain Strategy, turning the nation into a leading force behind the global Web3 revolution.

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