India has always been a country of massive technological potential, but turning that potential into a coordinated national strategy requires organized effort from industry leaders, not just enthusiasm from individual startups. This is exactly why the formation of a dedicated Blockchain Committee in India by the Internet and Mobile Association of India, commonly known as IAMAI, marked such a significant moment for the country's technology landscape. The committee was created to bring together major companies, government stakeholders, and emerging startups under one roof, with the shared goal of identifying real opportunities, addressing genuine challenges, and building a functioning blockchain ecosystem across the country. For professionals who want to understand the technical foundation behind these kinds of national blockchain initiatives, a Certified Blockchain Expert program offers a clear, structured starting point.

This article explains how the IAMAI Blockchain Committee came together, who was involved, what it aimed to accomplish, and how its work has evolved into the broader blockchain policy efforts shaping India today.

Understanding the Formation of the IAMAI Blockchain Committee

To fully appreciate the importance of the Blockchain Committee in India, it helps to understand the organization behind it and the specific problems it was designed to solve. Developers and technical professionals looking to build the actual systems these committees discuss often pursue a Certified Blockchain Developer program, which teaches the practical skills needed to bring blockchain concepts from policy discussions into working products.

Who Formed the Committee and When

The Internet and Mobile Association of India, one of the country's largest and most influential industry bodies representing the digital and internet economy, announced the formation of its Blockchain Committee in October 2018. This move came at a time when blockchain technology was generating significant global interest, yet India's own ecosystem remained relatively underdeveloped compared to other major economies actively exploring the technology's potential.

Leadership Behind the Initiative

The committee was chaired by Tina Singh, who served as the chief digital officer of Mahindra Finance at the time. Singh described blockchain as the technology of the future, emphasizing its potential to usher in a new era of trust and accountability for businesses across India. Other prominent members who joined the committee brought significant credibility and industry weight, including representatives from major global technology and financial companies such as IBM, Microsoft, and Mastercard, alongside contributors from Indian cryptocurrency exchanges like Zebpay.

Why This Moment Mattered for India

At the time the committee was formed, there were reportedly around 127 blockchain and cryptocurrency startups operating in India, a relatively modest number compared to the country's overall technology startup ecosystem. This highlighted a clear gap between India's broader digital ambitions and its actual progress in blockchain adoption specifically, making the formation of a dedicated, organized committee a timely and necessary step toward closing that gap.

The Core Goals of the Blockchain Committee

The IAMAI Blockchain Committee was not created simply as a symbolic gesture. It was designed around several clear, practical objectives meant to genuinely accelerate blockchain adoption across the country.

Creating Dialogue Between Stakeholders

One of the committee's central goals was fostering open dialogue between all relevant stakeholders, including government bodies, established corporations, technology providers, and emerging startups. Blockchain adoption at a national scale requires alignment between many different parties with sometimes competing interests, and the committee aimed to serve as a neutral platform where these conversations could happen productively.

Curating Content and Building Awareness

Public understanding of blockchain technology in India, much like in many other countries at the time, was limited and often clouded by confusion between blockchain itself and cryptocurrency speculation. The committee committed to curating and creating educational content designed to build clearer awareness of blockchain's actual capabilities and potential use cases beyond just digital currency trading.

Supporting Skill Development

Recognizing that a shortage of skilled blockchain professionals would slow down any national adoption effort, the committee placed real emphasis on aiding skill development across the country. This reflected an understanding that technology adoption cannot happen at scale without a workforce capable of actually building, maintaining, and securing blockchain-based systems.

Working Toward a Participative Economy

A broader ambition behind the committee's formation was moving toward what organizers described as a participative economy built around blockchain and token-based systems. This vision extended beyond simple technology adoption toward a more fundamental shift in how trust, ownership, and value exchange could function across Indian business and government systems.

Working With Government and Regulatory Bodies

A defining feature of the committee's mission was its commitment to working closely with government agencies, recognizing that blockchain technology, particularly when connected to cryptocurrency and digital assets, needed responsible development within appropriate regulatory frameworks. Committee members emphasized that achieving blockchain's full potential would require building genuine trust in the economic, social, and environmental value of blockchain and token-based systems, something that could only happen through careful, collaborative work between industry and policymakers rather than unregulated, unchecked growth.

Navigating a Complex Regulatory Environment

The committee's formation came during a particularly complicated period for cryptocurrency regulation in India, as the Reserve Bank of India had issued directives preventing Indian banks from working directly with cryptocurrency businesses. Despite this challenging regulatory backdrop, the committee's formation signaled that India's broader technology industry remained committed to exploring blockchain's potential, even while cryptocurrency specifically faced significant regulatory headwinds during this period.

How the Committee's Work Has Evolved Over Time

Industry committees rarely remain static, and the IAMAI Blockchain Committee's mission has continued to develop and expand in the years since its initial formation.

The Rise of the Blockchain and Crypto Assets Council

Over time, IAMAI's blockchain-focused efforts evolved into what is now known as the Blockchain and Crypto Assets Council, often referred to by the shorthand BACC. This council continues representing the broader crypto ecosystem in India, with a strong focus on public policy work and ongoing collaboration with policymakers and regulators. One of the council's notable achievements has been developing a self-regulation code of conduct for the cryptocurrency industry, created in consultation with key stakeholders and subsequently adopted by member crypto exchanges across the country.

Expanding Membership Across the Industry

The current committee structure includes a wide range of member organizations spanning cryptocurrency exchanges, blockchain technology firms, compliance and analytics companies, and international players with a presence in the Indian market. This diverse membership reflects how significantly the Indian blockchain and crypto ecosystem has grown since the committee's initial formation, expanding well beyond the more limited number of startups active in the space back in 2018.

Broader Industry Reports and Research

IAMAI's broader technology committee structure has also produced meaningful research output relevant to blockchain's development in India, including dedicated reports examining blockchain technology and its industry adoption. This research work has helped provide a more data-driven foundation for ongoing policy discussions, moving conversations about blockchain in India beyond speculation and toward evidence-based analysis of actual adoption trends and industry needs.

Why Industry Committees Like This Matter for National Technology Growth

Understanding the broader significance of initiatives like the Blockchain Committee in India requires recognizing how important organized, industry-led coordination is for any emerging technology's growth trajectory. Without a structured platform bringing together government, established companies, and startups, technology adoption often happens unevenly, with pockets of innovation that fail to connect into a coherent national strategy. Committees like this one help ensure that lessons learned by early adopters get shared more broadly, that regulatory concerns get addressed collaboratively rather than reactively, and that smaller startups get meaningful access to the kind of industry dialogue that might otherwise be dominated entirely by larger, more established players.

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What This Means for Businesses and Professionals in India

For businesses operating in or considering entry into India's blockchain space, the existence of organized industry committees like this one signals a maturing ecosystem with genuine institutional support, rather than an unregulated frontier lacking meaningful structure. This maturity can make it easier for businesses to navigate regulatory uncertainty, connect with potential partners, and access educational resources that help teams build stronger blockchain capabilities from the ground up.

As more companies look to enter this space or expand their existing blockchain initiatives in India, effectively communicating their value proposition to both business partners and everyday consumers becomes increasingly important. A strong Marketing Certification can help these organizations explain complex blockchain concepts and offerings clearly, building the kind of trust and understanding needed to drive genuine adoption in a market where confusion between blockchain and cryptocurrency speculation has historically slowed broader acceptance.

The Future of Blockchain Committees in India

Looking ahead, India's blockchain ecosystem is likely to continue benefiting from organized industry coordination, particularly as tokenization, decentralized finance, and enterprise blockchain adoption continue expanding globally. Committees and councils like the one formed by IAMAI, and its evolution into the Blockchain and Crypto Assets Council, are likely to keep playing an important role in shaping how India approaches regulation, education, and industry collaboration in this space. As global attitudes toward blockchain and digital assets continue maturing, India's own regulatory clarity is expected to improve as well, supported significantly by the ongoing dialogue these industry committees help facilitate between government and the private sector.

Conclusion

The formation of the Blockchain Committee in India by IAMAI represented a genuinely important step toward building a more organized, collaborative approach to blockchain adoption across the country. By bringing together major corporations, government stakeholders, and emerging startups under shared goals of dialogue, education, and responsible development, the committee helped lay important groundwork during a period when India's blockchain ecosystem remained relatively nascent. Its evolution into the broader Blockchain and Crypto Assets Council shows how this early initiative has matured into a more comprehensive effort focused on public policy and industry self-regulation. As India's blockchain and digital asset ecosystem continues growing, the collaborative model established by this committee is likely to remain an important part of how the country navigates the ongoing balance between innovation and responsible, well-regulated technology adoption.

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FAQs

1. What Is the IMAI Blockchain Committee?

The Internet and Mobile Association of India, commonly known as IAMAI, formed a Blockchain Committee in 2018 to support the development of India's blockchain ecosystem. The committee was intended to identify opportunities and challenges and work with government, startups, and industry participants.

2. Why Did IAMAI Form a Blockchain Committee?

IAMAI formed the committee to help blockchain technology reach its potential in India, including supporting innovation and job creation. Its activities were also intended to encourage collaboration among government, businesses, startups, and other stakeholders.

3. When Was the IAMAI Blockchain Committee Formed?

IAMAI announced the formation of its Blockchain Committee in October 2018. Contemporary reports dated October 15 and 16, 2018, described the committee's objectives and membership.

4. What Was the Main Objective of the IAMAI Blockchain Committee?

The committee's mandate included identifying blockchain opportunities and challenges and working with government, industry, and startups to develop the broader blockchain ecosystem in India. Skill development and awareness were also part of the initiative.

5. Who Chaired the IAMAI Blockchain Committee?

The committee was chaired by Tina Singh, who was Chief Digital Officer at Mahindra Finance at the time. Prasanna Lohar, then Head of Innovation and Architecture at DCB Bank, served as co-chair.

6. Who Were the Members of the IAMAI Blockchain Committee?

The committee included representatives and leaders associated with organizations such as Mastercard, Microsoft, IBM, Sofocle Technologies, Zebpay, Kotak, and HDFC Bank. The group therefore brought together participants from banking, technology, blockchain companies, and financial services.

7. How Was the IAMAI Committee Expected to Support Blockchain in India?

The committee was expected to facilitate dialogue between government and industry, identify blockchain opportunities, address challenges, and encourage ecosystem development. It also aimed to contribute to skill development and create greater awareness of blockchain technology.

8. Did the IAMAI Blockchain Committee Focus on Cryptocurrency?

The 2018 Blockchain Committee had a broader blockchain focus rather than being limited to cryptocurrency. IAMAI later operated a separate Blockchain and Crypto Assets Council (BACC) that represented interests across India's crypto ecosystem.

9. What Was the Blockchain and Crypto Assets Council?

The Blockchain and Crypto Assets Council, or BACC, was an IAMAI initiative that represented participants in India's crypto ecosystem. It worked on issues involving regulation, technology, accounting, compliance, and industry practices.

10. What Happened to IAMAI's Blockchain and Crypto Assets Council?

IAMAI announced in July 2022 that it was dissolving BACC. IAMAI said the decision reflected continued uncertainty around the regulatory environment and stated that it wanted to focus resources on other emerging digital sectors, including financial inclusion and central-bank-issued digital currency.

11. Is IAMAI Still Active in India's Technology Ecosystem?

Yes. IAMAI remains a not-for-profit industry body focused on India's digital economy, with activities spanning public policy and advocacy, research, conferences, startups, and consumer trust and safety. Its current website describes IAMAI as representing hundreds of Indian and multinational companies and startups.

12. Did the IAMAI Blockchain Committee Work With the Government?

Working with government was explicitly part of the committee's mandate. The committee was intended to create dialogue between government, industry, startups, and other stakeholders around blockchain opportunities and challenges.

13. How Could a Blockchain Committee Help India's Blockchain Industry?

An industry committee can provide a forum for businesses, technology companies, startups, researchers, and policymakers to discuss technical and regulatory issues. Such collaboration can also help identify practical blockchain use cases and skill-development requirements.

14. What Blockchain Opportunities Were Identified in India?

Blockchain was being explored for applications involving areas such as financial services, supply chains, healthcare, real estate, and government services. IAMAI and EY later published a 2021 report examining blockchain technology and its industry adoption in India.

15. How Can Blockchain Create Jobs in India?

Blockchain can create demand for developers, smart contract engineers, security specialists, architects, analysts, product professionals, and other technology roles. IAMAI's 2018 committee initiative specifically cited blockchain's potential to facilitate job creation in the emerging digital economy.

16. What Role Does Skill Development Play in Blockchain Adoption?

Skill development is important because organizations need professionals who understand blockchain architecture, distributed systems, smart contracts, cybersecurity, and practical implementation. IAMAI's committee was specifically reported as having a role in curating and creating content to support skill development.

17. Can Blockchain Committees Help Startups in India?

Yes. Industry committees can create opportunities for startups to interact with established companies, policymakers, investors, and technology professionals. IAMAI's 2018 Blockchain Committee explicitly included collaboration with startups within its mandate.

18. What Is IAMAI's Role in India's Digital Economy?

IAMAI represents companies and startups across India's digital ecosystem and works on areas including public policy, research, business conferences, startup promotion, and consumer trust and safety. Its current membership and activities extend beyond blockchain into multiple digital sectors.

19. What Was the Significance of IAMAI's Blockchain Initiative?

The 2018 initiative demonstrated industry-level interest in exploring blockchain beyond cryptocurrency. By bringing together technology companies, financial institutions, startups, and other stakeholders, the committee sought to encourage discussion around applications, challenges, skills, and ecosystem development.

20. What Is the Current Status of IAMAI's Blockchain Committee?

The original IAMAI Blockchain Committee was announced in 2018, so it should not be described as a newly formed committee today. IAMAI subsequently operated BACC, which it dissolved in 2022. IAMAI itself continues to operate as a digital-industry association, while its current public website lists its broader policy, research, startup, and industry activities.