The Indian government pledges to support Web3 startups and recognizes that "Web3 represents the future of the Internet."

The Indian government recently answered some questions about Web3 in the Lok Sabha, the lower house of the Indian Parliament. An MP asked Ministry of Electronics and Information Technology (Meity) Minister Rajeev Chandrasekhar: “Will the government support startups innovating in the Web3 space in the form of incubation or mentoring?” The latter noted that blockchain is “an important component of Web3. part". He further said, "Web3 represents the future of the Internet and the government is committed to ensuring that innovators in India create the future of Web3 and the Internet." Chandrasekhar went on to outline the various initiatives taken by the Ministry of Electronics and Information Technology to support Web3 startups. (Bitcoin.com) According to previous news, in response to the question "When can India see a bill for Web3?" Jayant Sinha, chairman of the Indian Parliament's Finance Standing Committee and Parliamentary Minister of the Bharatiya Janata Party (BJP), said in an interview at India Blockchain Week that India is unlikely Legislative bills targeting cryptocurrencies or Web3 will be proposed in the short term, possibly until mid-2025.