The world’s second largest economy can make a big profit on the development of the cryptocurrency business. By 2030, this could take the form of investments and savings from the use of cryptocurrencies for up to $ 184 billion.
The Indian economy has the potential to grow by more than six percent by the end of this decade thanks to the cryptocurrency business. This is according to a report by the Indian National Association for Software and Service Companies, which is an advisory body to the Indian government. That would mean about $ 184 billion in investments in the cryptocurrency sector or savings from using cryptocurrency technologies.
The cryptocurrency business could also have a positive effect on the Indian labor market. While today it directly or indirectly employs around 50,000 people, by 2030 this number could increase up to sixteenfold, to 800,000.
India’s potential in this regard is huge. The cryptocurrencies are mainly dealt with by younger people, and India really has enough of them. People aged 24 and under account for less than 54 percent of India’s total population, a huge advantage over economically developed countries. All the more so in the context of the development of the cryptocurrency sector.