In India, the sector employs 50,000 people, with that figure anticipated to rise to nearly 800,000 by the end of the decade.

According to a research by India’s primary trade association for the IT sector, the crypto business has the potential to generate $184 billion in economic value in the form of investments and cost savings by 2030.

The National Association of Software and Services Companies (NASSCOM) and Binance-owned crypto exchange WazirX collaborated on the research, titled “Crypto Industry in India.”

The “CryptoTech” business, which includes enterprises that engage in trading, payments, remittances, retail, and other activities, is predicted to grow to $241 million in India by 2030, and $2.3 billion globally by 2026.

In India, the sector presently employs 50,000 people, with NASSCOM projecting that figure to rise to over 800,000 by the end of the decade.

This projected exponential rise is likely to be fueled by the country’s youthful population’s rapid embrace of crypto-related ventures.

Crypto investment in India has risen dramatically in the previous year, according to a recent report from blockchain analytics firm Chainalysis, which claims a jump from $923 million to $6.6 billion.

This has occurred despite a cloud of regulatory uncertainty hanging over the nation, with the country’s government proposing an outright ban at the start of this year.

Following this harsh position, the government softened its stance, suggesting in June that bitcoin will be classified as an asset class under a proposed crypto regulatory bill.

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Article Credits –ncoindesk.com