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India to Explore Crypto and Web3 to Achieve Target of $5 Trillion Economy India can achieve its dream of $5 trillion economy by exploring its $1 trillion Web3 industry of dollars. funding in 2021.
India is poised to fulfill its dream of a $5 trillion economy by exploring the untapped $1 trillion crypto market it currently has under its belt. India’s web3 industry aims to dominate the global market and contribute to the country’s GDP.
After overtaking the United Kingdom, India has become the fifth largest economy in 2022, just after the United States, China, Japan and Germany. The World Bank’s December report titled “Navigating the Storm” pointed out that India is better prepared to deal with global pullovers than any other emerging market.
Moreover, policy reforms and steady FDI inflows have shielded the Indian economy from the volatility of global portfolio flows. At present, sectors such as IT, cloud services, big data, AI and IoT support the country’s GDP with up to $200 billion.
According to a report by Chainanalysis, India ranks in the top five positions for crypto adoption, alongside sixth place for DeFi adoption. The US-India Strategic Partnership Forum (USISPF) report titled “India’s $1 Trilli…
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