Forbes India 15th Anniversary Special

Baijayant Panda talks about India's G20 presidency's role in shaping Web3 for India at Namaste Web3

Mr Panda touched on India's growth in the recent years, and how today's India is a key player in the Web3 ecosystem that's shaping major world decisions

Shashank Bhardwaj
Published: Mar 17, 2023 03:07:57 PM IST

Baijayant Panda talks about India's G20 presidency's role in shaping Web3 for India at Namaste Web3

CoinDCX and Forbes India collaborated to organise an informative event; Namaste Web3, on March 11, 2023, in Delhi to educate and raise awareness about the potential of Web3.

The goal of the event was to highlight how Web3 could become a significant player in India's economy and help the country achieve its goal of becoming a $5 trillion economy. The event drew over 250 attendees, including policymakers, industry leaders, Web3 entrepreneurs and professionals, as well as those involved in Web2.

Manisha Gupta engaged in a fireside chat with Baijayant Panda, National Vice President, Bharatiya Janata Party (BJP) where they talked about using India's G20 presidency to promote the advancement of regulatory principles for Virtual Digital Assets (VDA) through international collaboration.

“India’s presidency of the G20 comes at a very opportune time. In recent years, particularly since the pandemic, the image of India has dramatically changed around the world,” said Mr Panda. “India today is acknowledged, not just in the G20 but across the world, as a key player in shaping the major decisions that the world needs to take. And technology is a very important part of this.”

Talking about the current regulatory landscape for Web3 in India, Mr Panda pointed out that traditionally, India has been a follower and would wait for other countries to make decisions before implementing them. However, in the past decade, India has gained more confidence in its decision-making abilities and is becoming more self-assured in making significant decisions on its own.

"The need for regulations to get updated is much more important today. We need to provide a level playing field so that entrepreneurs and startups don't feel that even though their market is India, their talent is India, their technologies are being developed in India, they need to be incorporated overseas,” said Mr Panda, while talking about the importance of VDA regulatory principles.

You can watch the complete chat here.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash