Females represented 1 in 10 futures traders in India, highlighting the scope for greater participation. The report called for reforms in crypto tax deductions and reporting in addition to the need for federal guidance and tax implications:“India must overcome its negative policy perception that stifles innovation and instead focus on identifying and addressing the pain points faced by stakeholders with effective regulation that will incentivize the Web3 sector to grow and thrive.”Indian Web3 firms call for progressive regulation for all stakeholders.
India is a global hub for founders and developers, currently home to the second-largest developer market and third-largest founder base globally. Some of the main barriers preventing large-scale investments, according to Tak, have to do with the “slower than anticipated growth of some of these startups .“ Unclear regulations and compliances also hinder Web3 investments in India.
Related: Indian town adopts Avalanche blockchain for tamper-proof land recordsIn contrast, investments into the Indian Web3 landscape saw a 224% increase in 2024 compared to the previous year — sourced from various avenues such as local funds, ecosystem funds and corporate venture arms of leading exchanges.
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Author / Journalist: Cointelegraph by Arijit Sarkar
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