Indian Government Confirms Commitment to Supporting Web3 StartupsThe Indian government has reaffirmed its support for startups in the Web3 sector, particularly those innovating in blockchain technology. The Minister of Electronics and Information Technology stated that Web3 represents the future of the internet and that the government is dedicated to ensuring that Indian innovators shape the future of Web3 and the internet. Minister Chandrasekhar outlined various initiatives undertaken by the
Ministry of Electronics and Information Technology (Meity) to support Web3 startups. This includes the establishment of a
Centre of Excellence (CoE) focused on blockchain technology in collaboration with various organizations and the government. The
CoE provides specialized incubation facilities and support for startups in the field of emerging technologies. Additionally, Meity supports startups through various schemes such as the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Scheme, the Product Innovation, Development and Growth (SAMRIDH) startup accelerator program, the Next Generation Incubation Scheme (NGIS), and the Support for International Patent Protection in E IT (SIP-EIT) Scheme.
In conclusion, the Indian government's commitment to supporting Web3 startups, particularly those focused on blockchain technology, demonstrates its dedication to fostering innovation and technological advancement in the country. This support is crucial for the growth of the Web3 sector in India and will contribute to shaping the future of the in
