India's government confirms support for Web3 startups, with the Minister of State for Electronics and Information Technology declaring Web3 as the internet's future.
In Lok Sabha, Minister Rajeev Chandrasekhar responded affirmatively to queries about government backing for Web3 startups, emphasising blockchain's significance.
A Centre of Excellence (CoE) for blockchain was established in March 2020 by Meity, offering specialised incubation for blockchain startups.
Meity also supports emerging technology startups through multiple schemes like TIDE 2.0, SAMRIDH, NGIS, and SIP-EIT.