Emerging Web3 Technologies to aid Tamil Nadu’s $1 Trillion economy by 2030

Web3 Technologies, including blockchain and metaverse, are thriving, and it has been noticed that Tamil Nadu is looking forward to a vibrant culture with these new-age Technologies. As per a report by KPMG and the Confederation of the Indian Industry, Tamil Nadu’s growth ambitions can be successful with the association of these next-gen technologies.

All the major information technology companies operating in Tamil Nadu are focusing primarily on web3 and metaverse technologies via metaverse development, design, support, and testing services along with the internet of things, artificial intelligence, 5G, distributed ledger technology, extended reality, blockchain, and quantum computing.

The report was released by T. Mano Thangaraj, the Minister of Information Technology and Digital Services, during the first edition of Tech-Next 2022, a conference organized by the confederation of Indian industry. The Minister also quoted several examples of Tamil Nadu getting the first virtual reality lab dedicated to education developed for government schools. 

He also addressed how Guardian link has entered the NFT gaming Market by launching a web3 cricket game known as the Meta Cricket League. Furthermore, the report also highlights Tamil Nadu to become a 1 trillion dollar economy by 2030. Metaverse web 3.0 and related technologies will help propel the overall GDP by a couple of percentage points as they boost efficiencies through a virtual display and Merchandise opportunities.

The Minister added,” Our Information Technology department is working towards introducing new policies and revising current policies, including our cyber policy, towards making it more relevant to the industry. We would continue to explore the possibility of bringing policies aligned to web3 to support the startups and the overall technology ecosystem in the State. iTNT Hub, India’s First Emerging and DeepTech Innovation Network announced a few months back, will be launched in the coming two to three months, he assured.

Neeraj Mittal, the Principal Secretary to the Government Information Technology and Digital Services Department Government of Tamil Nadu, said, “The iTNT hub would have 13 different technology verticals when launched. We will make sure the entire 500 colleges across Tamil Nadu, with over half a million graduates, will get to experiment, learn, and taste the life of an entrepreneur and maximize the possibilities of succeeding.”

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