The crypto industry in India has the potential to add $184 billion of economic value, in the form of investments and cost savings, by 2030, according to a report from the country’s premier trade body for the tech industry. The report, entitled “Crypto Industry in India,” was published by the National Association of Software and Services Companies (NASSCOM) in conjunction with Binance-owned crypto exchange WazirX.
The “CryptoTech” industry – companies involved in trading, payments, remittances, retail and more – is expected to reach a size of $241 million in India by 2030, and $2.3 billion globally by 2026. The industry currently employs 50,000 people in India, a number which NASSCOM expects to grow to over 800,000 by the end of the decade.
Important takeaways for all competitive exams:
- NASSCOM Chairperson: Rekha M Menon;
- NASSCOM Headquarters: New Delhi;
- NASSCOM Founded: 1 March 1988.