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The Great Boomerang: How India’s Web3 Talent Is Circling Back - Remotely
The Great Boomerang: How India’s Web3 Talent Is Circling Back - Remotely
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BTCCSquare news:
India's Web3 ecosystem is witnessing a paradoxical trend. While startup founders continue to register companies in Dubai and Singapore for tax benefits, the engineering talent remains firmly rooted in India. Electric Capital's 2024 Developer Report reveals India now commands 15% of global blockchain developers, ranking second only to the US—a 26% increase since the 2022 crypto tax implementation.
The hybrid model proves financially astute, reducing operational costs by 45-60% compared to Gulf-based operations. NASSCOM data shows explosive growth: from 25,000 blockchain programmers in 2020 to over 75,000 across 450+ Web3 startups by 2023's close. Regulatory clarity could soon lure more intellectual property back to Indian soil.
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