New Delhi, August 14, 2025 — The Parliamentary Committee on Finance has selected the subject “A Study on Virtual Digital Assets (VDAs) and Way Forward” for detailed examination during the year 2024-25. This decision was made public through No. 3141 in the latest edition of the LOK SABHA Bulletin-Part II on Thursday, August 14, 2025, furthering ongoing discussions about virtual digital assets, which have been one of the central points of discussion in global financial and technological debates. This subject will be examined in detail, offering a chance for deeper insights into the future of VDAs in India and their potential role in the nation’s economy.
The announcement follows a submission from a delegation representing Digital South Trust, Bharat Web3 Association, Hashtag Web3, CoinDCX, BlockOn Ventures, and KoinBX, which provided a set of policy recommendations to the Chairperson of the Parliamentary Standing Committee on Finance at the end of July 2025. These recommendations were aimed at encouraging innovation and clarifying regulations for digital assets, with the goal of unlocking a $100 billion Web3 economy by 2035.
A well-defined and adaptable regulatory framework can contribute to business growth, transparent financial systems, and job creation across sectors. Industry estimates suggest that with the appropriate regulations, India could unlock a $100 billion Web3-driven economy by 2035, create over 7 million jobs, and attract up to $2 billion in annual foreign investment.
What are Web3 and VDAs, and Why Are They Relevant?
Web3 refers to the evolution of the internet towards a decentralized model, utilizing technologies such as blockchain to enable greater transparency, security, and user control. Virtual Digital Assets (VDAs) include digital representations of value such as cryptocurrencies, stablecoins, and tokenized real-world assets, which can be transferred or traded electronically. These assets, often built on blockchain and other decentralized technologies, have the potential to transform various sectors by providing new avenues for economic interaction and value exchange. As these technologies evolve, they could play an important role in promoting innovation, improving financial inclusion, and reshaping traditional systems. Understanding and developing appropriate frameworks for VDAs will be important as India addresses the growing role of these emerging technologies in the global digital economy.
This new subject will be examined by the Parliamentary Committee on Finance in 2024-25, offering a chance to examine VDAs’ broader impact on the economy. It may also contribute to the development of a regulatory framework that supports innovation while ensuring security for users.
Sudhakar Lakshmanaraja, Founder of Digital South Trust, commented, “India is in a unique position to become a global leader in the Web3 space. The government’s focus on VDAs and a regulatory framework will provide the clarity necessary for the industry to flourish, driving innovation, investment, and job creation.”
Vedang Vatsa, Founder of Hashtag Web3, added, “Virtual digital assets can contribute to growth by enabling new business models, creating opportunities across industries, and enhancing digital economies globally. With appropriate regulatory frameworks, these assets can bring significant benefits to various sectors and help drive innovation forward.”
The delegation highlighted that Web3 technologies, including Virtual Digital Assets (VDAs), hold significant potential to support India’s long-term development goals, such as Digital India and Viksit Bharat 2047, by promoting innovation, enhancing transparency, and improving financial inclusivity.
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