ALL ABOUT THE INDIAN WEB3 MARKET
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Now that we have had an introduction to Web 3.0, what it is, and its current state in India, let us now look into Web3 through a professional lens. As you might already know, Web3 jobs have started garnering a lot of attention recently. But what does it mean to break into the Web3 field in India? What does the labor market look like??
What does the Web3 job market in India look like?
According to KuCoin’s global survey report Journey Into Web3, 47% of respondent Indians have joined WEb3 communities, 23% have received related education and 14% are actively searching for Web3 jobs. More than half (i.e.) 60% of respondent Indians who have no prior professional web3 experience have expressed a desire to have a career in Web3.
It is no doubt that India is a global powerhouse of tech talent. According to the same report, India has real potential to lead the world into Web3, 80% of its professionals are younger than the global average. China’s pullback from the crypto market has only further highlighted India’s globally connected digital population, which is the second largest in the world, highlights The Mint.?
However, according to The Economic Times, despite the large talent pool and the rise of learning platforms, there is a shortage of professionals with deep knowledge and the right skill set for the role. Nearly a quarter of newly recruited talent learn on the job itself, say industry experts.
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Apart from the skill set and knowledge, one other notable observation from the survey was the lack of gender diversity in the talent pool. Men comprised around 85% of the survey sample, while women took up only a meager 13%. It must also be noted that beyond the gender binary, the survey participant pool loses diversity even further- with non-binary people taking up only a sparse 2% of the total survey. If the respondent pool from India was to be singled out, the probability of diversity looks even bleaker. These statistics, it may be safe to say, are reflective of the Web3 community at large.
How do you bridge the gap?
However, this is not to undermine the obvious significance and promise of a Web3 career. As of February 2022, there were 13,000 Web3-related job openings in India, says a report by Xpheno. It can be observed from data from LinkedIn that crypto job listings went up a whopping 395% percent from 2021. Suffice it to say, there is no shortage of Web3 jobs in India, if anything, we need more people to fill these vacancies. But how do we do that while maintaining diversity and also keeping up with the fast-evolving needs of the field?
Web3 is a high-level, highly complex internet landscape that can be incredibly difficult to professionally navigate and perform. Keeping up with the new knowledge and skills needed to tackle the industry is crucial. Consistently updating yourself on the latest developments, and attending workshops, seminars, etc. can prove to be greatly helpful to break into the field or perform better if you are already a professional.
According to KuCoin, though women tend to find Web3 career benefits like flexibility more appealing, 33% of women reported the “bro” culture in Web3 to be a challenge. Due to the vastly disproportionate gender distribution in the Web3 space, it is easy to develop a work culture that can exclude women and other gender minorities in the workplace. Creating a more inclusive work culture that tries not to focus as much on gender similarities and differences may help foster an environment that is safe and conducive for people of all genders.?
Just get out there and explore
Finally, just go out there and explore. Web3 is a vast terrain and there's something for nearly everybody. Only by exploring and trying things out, you can gauge your preferences, or if you even want to pursue Web3 as a career. If you are someone who does intend to pursue it as a career, exploring will help you discover which sector you want to venture into- be it DeFi, Metaverse, DAOs, Blockchain-based games, etc.