New Delhi, July 29, 2025 — A delegation of Web3 leaders submitted a forward-looking policy proposal to Sh. Bhartruhari Mahtab, Chairperson of the Parliamentary Standing Committee on Finance, to support the growth of the Web3 ecosystem in India. The proposal encourages innovation in decentralized technologies and the expansion of the digital asset economy.
Web3 refers to the next generation of the internet built on decentralized technologies like blockchain, enabling greater transparency, data integrity, and user ownership.
The delegation included Sudhakar Lakshmanaraja (Founder, Digital South Trust), Ramakrishna Venkatesh (Director, Bharat Web3 Association), Vedang Vatsa (Founder, Hashtag Web3), Ankit Anand (AVP, CoinDCX), Jagdish Pandya (Founder, BlockOn Ventures), and Utkarsh Tiwari (CSO, KoinBX). The representatives outlined how India could benefit from a well-defined Web3 framework that enables business creation, job growth, and improves financial accountability through real-time, auditable digital records.
The delegation shared a roadmap to unlock a $100 billion Web3 economy, create 7 million+ jobs, and attract $1–2 billion in annual FDI – all through a progressive, innovation-friendly policy framework.
The conversation focused on how a clear and adaptive Web3 framework can contribute to business growth, transparent financial systems, and employment across sectors. Industry estimates suggest that with enabling regulations, India could unlock a $100 billion Web3-driven economy by 2035, create over 7 million jobs, and bring in up to $2 billion in annual foreign investment. The delegation proposed a set of policy recommendations to help India tap into the global Web3 opportunity, including:
- Setting up a National Web3 Advisory Committee to enable regular dialogue between the industry, regulators, and ministries
- Aligning tax policies to promote domestic innovation and long-term investment
- Establishing a clear regulatory framework for virtual digital assets, stablecoins, and tokenized real-world assets
- Encouraging blockchain-based public infrastructure use cases to improve traceability and reduce inefficiencies
“India has the talent and the tech leadership to shape the global Web3 landscape. What we need now is a regulatory foundation that nurtures innovation, safeguards users, and encourages long-term investment,” said Sudhakar Lakshmanaraja, Founder of Digital South Trust.
“Stablecoins are becoming central to global financial discussions. For India, they present an opportunity to modernize cross-border payments, strengthen the rupee in digital trade, and build trust through on-chain transparency,” said Vedang Vatsa, whose recent research on stablecoins is indexed in the S&P Global Market Intelligence Research Paper Series and ranked among the top papers.
The delegation stated that Web3 technologies can contribute to India’s long-term development goals, including Digital India and Viksit Bharat 2047, by enabling open access systems and verifiable data trails. They also emphasized the need for public-private collaboration in areas like education and skill development to ensure a trained workforce is available for this growing sector.
The meeting reflected a mutual interest in maintaining open dialogue between the industry and lawmakers to explore balanced, innovation-friendly regulation.
Hashtag Web3 is a leading Web3 research and insights publisher powered by an integrated analysis arm and active community consultation. It connects a global network of over 100,000 professionals and generates over 55 million annual views on career postings, offering a real-time pulse on industry talent dynamics and emerging trends.
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