India’s geopolitical power, status, and leadership over the next 20 years is inextricably linked to the policies and regulatory framework that it implements today with respect to digital assets and the Web 3.0 industry. Digital assets that use blockchain and distributed ledger technology are increasingly recognized as the catalyst for future innovation, economic growth, and financial inclusion. Many believe this digital-world, paradigm-shift to Web 3.0 will be as consequential as the birth of the internet. We strongly agree. In fact, we firmly believe that India is uniquely positioned to become a world leader in this new digital economy. Digital assets like Bitcoin, Ether, Solana, Algorand, stablecoins, and other blockchains are the fuel of the future financial ecosystem and Web 3.0. To provide some perspective, in 2013, the market capitalization of the digital asset market was approximately $1.5 billion, whereas today, the market capitalization is at nearly $3.0 trillion1. By our estimates, embracing and fostering this technology in India could contribute an additional $1.1 trillion of economic growth to its GDP over the next 11 years.
US-India Strategic Partnership Forum