Report by Confederation of Indian Industry (CII) and KPMG.

Report by Confederation of Indian Industry (CII) and KPMG.

  • The report titled ‘Metaverse and web 3.0 opportunities in  India – Nurturing Tamil Nadu’s growth ambitions through next gen technologies’ was released by the Confederation of Indian Industry (CII) and KPMG.
  • According to the report, a thriving and a vibrant culture has been noticed across the broad spectrum of new age technologies, including Metaverse, Web 3.0, Blockchain and others in Tamil Nadu.
  • The report pointed out that all major Information Technology (IT) companies in Tamil Nadu are focusing on Metaverse and Web 3.0 technologies via metaverse design, development, testing and support services.
  • Metaverse, Web 3.0 and related technologies will help propel the overall GSDP of the state and help Tamil Nadu achieve its target to become a $1 trillion economy by 2030.

Note

  • The i-Tamil Nadu Technology (iTNT) hub, India’s first Emerging and DeepTech Innovation Network, is expected to be launched in early 2023.

Note

  • Metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality and augmented reality headsets.
  • Web 3.0 Technology is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics.
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