India is Committed to Foster Web3 Innovations and Startups: Rajeev Chandrasekhar MeitY is also fostering talent in this space through initiatives such as the TIDE 2.0 Scheme, SAMRIDH Scheme, Next Generation Incubation Scheme (NGIS), FutureSkills PRIME, and Support for International Patent Protection in E&IT (SIP-EIT) Scheme, shared Union Minister of State for Electronics and Information Technology

By Paromita Gupta

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The Government of India is committed to fostering innovations and innovators in the Web3 space in the country, The information was shared by Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology during the Lok Sabha session on 6th December as a response to a query on whether the government is supporting the startups and the Web3 ecosystem.

There are 900+ enterprises in the Web3 domain, constituting 11% of the global Web3 developer community in 2022, according to a Primus Partners report as of November 2023.

With blockchain being an important element of Web3, the minister shared that MeitY was focused on re-skilling/ up-skilling of IT professionals in 10 new/emerging technologies including blockchain technology.

"MeitY has initiated a programme titled "FutureSkills PRIME" (Programme for Re-skilling/Up-skilling of IT Manpower for Employability) aimed at re-skilling/ up-skilling of IT professionals in 10 new/emerging technologies namely Blockchain (which is an important technology for Web3), Artificial Intelligence, Robotic Process Automation, Augmented/Virtual Reality, Internet of Things, Big Data Analytics, Additive Manufacturing/ 3D Printing, Cloud Computing, Social & Mobile and Cyber Security," he shared.

Under the program, nine courses in blockchain were made available and had an enrollment number of 1,999 and a completion of 301. "Also under the blended learning programme, C-DAC/NIELIT resource centres have trained 1,013 Government Officials and 143 Trainers in Blockchain technology," Chandrasekhar added.

MeitY in collaboration with Software Technology Parks of India (STPI), Govt. of Haryana, Padup Venture Private Limited, IBM, Intel, Global Blockchain Association (GBA) and Foundation of Innovation and Technology Transfer (FITT) had set up a blockchain Center of Excellence in 2020.

It is also fostering talent in this space through initiatives such as the TIDE 2.0 Scheme, SAMRIDH Scheme, Next Generation Incubation Scheme (NGIS), and Support for International Patent Protection in E&IT (SIP-EIT) Scheme.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 

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