CoinDCX CEO Sumit Gupta believes Web3 could become a cornerstone of India’s digital economy. In a post on X, Gupta projected that the sector could add $1.1 trillion to India’s GDP by 2032. He pointed to the country’s growing developer base and startup ecosystem as evidence of its readiness to lead. India already has more than 1,000 Web3 startups.
The country also accounts for over 12% of the world’s crypto developers, according to Gupta. These numbers, he argued, show that India can build its own blockchain protocols, wallets, and exchanges instead of depending on global players. Gupta described Web3 as an opportunity similar to manufacturing under the “Made in India” initiative. “Now’s the time to lay the foundation for Make in India For the World,” he wrote.
Echoing Industry Voices
Sumit Gupta’s comments came in response to a statement by the Bharat Web3 Association (BWA). The industry group emphasized that Web3 is not just a financial experiment but a digital infrastructure opportunity for India. BWA’s Chairman, Dilip Chenoy, said Web3 “reduces reliance on global platforms” and offers a chance to create homegrown blockchain infrastructure.
He stressed that India must not only focus on physical goods but also on building the digital frontier of the internet. Gupta amplified this vision by suggesting a national framework similar to the U.S.’s “MAGA” slogan. He proposed “MIFW,” short for “Make in India For the World,” as a rallying call for Web3 innovation.
Building the Digital Frontier
The optimism across the industry reflects a simple belief: India’s tech talent is ready to shape the internet’s future. Experts note that with the right infrastructure, the country has every chance to become a global center for blockchain and DeFi. However, the road ahead is not without obstacles. Unclear regulations, heavy taxation, and compliance challenges continue to slow progress.
Leaders in the space stress that timely and supportive policies will decide whether India turns its Web3 promise into reality or lets the opportunity slip away. For now, Gupta’s $1.1 trillion projection underscores both the scale of the opportunity and the urgency to act. The debate around “Make in India For the World” signals that the next decade may be as much about digital exports as physical goods.