The upcoming Union Budget presents a critical opportunity to foster innovation and growth within India’s burgeoning Web3 sector. We expect the government to consider several key measures, including:

Clearer regulatory framework: A well-defined regulatory framework that encourages responsible innovation and fosters a conducive environment for Web3 businesses to thrive.

Tax incentives for R&D: Incentives for research and development in blockchain technology can drive innovation and attract talent to the sector.

Focus on skill development: Initiatives to upskill the workforce in blockchain and Web3 technologies are crucial for India to become a global leader in this space.

Support for Web3 infrastructure: Supporting the development of robust and scalable blockchain infrastructure, including high-speed internet connectivity and access to affordable cloud computing resources.

We believe that a supportive regulatory environment and targeted policy measures can unlock the immense potential of Web3 technologies and position India as a global hub for blockchain innovation.
Specifically for W Chain, we expect the government to recognize the potential of blockchain-powered payment solutions in driving financial inclusion and boosting economic growth. We look forward to contributing to India’s journey towards becoming a global leader in the Web3 revolution.