NASSCOM: Cryptotech industry can add $184B of economic value in India

WHY IN THE NEWS?

• 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.