As per MRFR analysis, the India Blockchain Supply Chain Market Size was estimated at 65.33 (USD Million) in 2023. The India Blockchain Supply Chain Market is expected to grow from 90.94(USD Million) in 2024 to 8,825 (USD Million) by 2035. The India Blockchain Supply Chain Market CAGR (growth rate) is expected to be around 51.577% during the forecast period (2025 - 2035)
Key India Blockchain Supply Chain Market Trends Highlighted
The India Blockchain Supply Chain Market is witnessing significant trends driven by increased demand for transparency and efficiency in logistics and supply chain processes. Major industries in India, such as agriculture, pharmaceuticals, and textiles, are adopting blockchain technology to enhance traceability and reduce fraud. The Indian government has actively promoted digital initiatives, like the Digital India program, which aligns with the growing interest in blockchain solutions to streamline operations and improve data sharing among stakeholders.
Opportunities in this market are abundant, particularly in sectors facing challenges related to product integrity and supply chain visibility.Blockchain can be used, for instance, to monitor produce from farm to table so guaranteeing authenticity and quality in the agriculture sector. Blockchain can enable real-time tracking and raise customer satisfaction by consistent service delivery, thus industries are searching more and more for methods to maximize inventory control and logistics operations.
Recent patterns show a growing cooperation between established companies and startups concentrating on blockchain technologies for supply chains. By allowing smaller companies to use the resources and knowledge of bigger companies, these alliances are encouraging creativity and hastening the acceptance of blockchain solutions in many different fields.
Additionally, the awareness among Indian businesses regarding the potential cost savings and operational efficiencies that blockchain can offer is growing. As companies continue to explore blockchain's capabilities, regulatory frameworks are also evolving, offering a conducive environment for sustainable growth. The emphasis on reducing inefficiencies and enhancing transparency is driving the shift towards adopting blockchain solutions in India's supply chain landscape.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
India Blockchain Supply Chain Market Drivers
Increasing Demand for Transparency and Traceability in Supply Chains
The need for transparency and traceability in supply chains is one of the key drivers for the growth of the India Blockchain Supply Chain Market. According to the Ministry of Commerce and Industry, government initiatives have emphasized the importance of a transparent supply chain to combat issues like counterfeit goods and inefficiencies in logistics. This has led to an increased adoption of blockchain technology among Indian enterprises, with major companies like Tata Consulting Services (TCS) and Wipro launching pilot projects aimed at enhancing traceability.
TCS reports that blockchain can potentially reduce traceability issues by up to 70 percent, thereby greatly improving consumer trust and safety standards. This data aligns with the increasing demand among retail sectors, where a survey indicated that 70 percent of consumers prefer brands that guarantee product authenticity. Consequently, such market dynamics solidify the trajectory of the India Blockchain Supply Chain Market.
Government Initiatives and Regulatory Framework
The proactive stance taken by Indian governmental bodies in promoting blockchain technology is a significant driver for the India Blockchain Supply Chain Market. The Indian government has been actively formulating regulations and frameworks to foster innovation in blockchain applications. The National Blockchain Strategy document outlines various efforts aimed at encouraging the integration of blockchain into the public and private sectors.
This has led to partnerships between government bodies and technology firms, such as the collaboration between the Agricultural and Processed Food Products Export Development Authority and the tech firm Nucleus Vision to enhance supply chain integrity in agriculture.Such initiatives have seen an increasing allocation of funds towards Research and Development, enhancing capabilities that are pivotal for the fortification of supply chains.
Rise of E-commerce and Online Retail
The exponential growth of e-commerce and online retail platforms in India is significantly impacting the India Blockchain Supply Chain Market. According to the India Brand Equity Foundation, the online retail industry is expected to grow to USD 200 billion by 2026, resulting in escalating supply chain complexities. In response, companies like Flipkart and Amazon are increasingly adopting blockchain solutions to streamline their logistics and inventory management.
A recent project launched by Flipkart indicated a 40 percent improvement in delivery times with blockchain integration, which underscores the critical necessity for robust supply chain operations. As the e-commerce sector expands, the urgency for efficient and transparent supply chains becomes more pronounced, thereby driving the blockchain market forward.
Growing Investment in Technological Innovations
Investment in technological innovations is crucial for propelling the India Blockchain Supply Chain Market. As per the National Association of Software and Service Companies, the technology sector in India is projected to attract USD 1 trillion by 2025, which includes substantial investments in blockchain technology. Numerous startups are focusing on delivering blockchain-based solutions tailored for supply chain management, increasing competition, and leading to innovative applications.
Companies like Tanla Platforms are redefining the way blockchain can be utilized, aiming for reductions in operational costs by up to 30 percent through automated processes that ensure a seamless supply chain. As investment in technology continues to flourish, the market potential for blockchain solutions in the supply chain sector looks promising.
India Blockchain Supply Chain Market Segment Insights
Blockchain Supply Chain Market Application Insights
The Application segment in the India Blockchain Supply Chain Market plays a pivotal role in shaping the future of supply chain operations by integrating advanced technology to enhance efficiency, transparency, and security. Blockchain technology provides innovative solutions across various applications to address pressing challenges faced by industries. Among the key applications, Payment and Settlement, as well as Counterfeit Detection, are significant contributors to this market's expansion.
The Payment and Settlement application streamlines financial transactions by offering a secure and traceable method for conducting payments, which eliminates fraud and reduces settlement times. This technology is particularly beneficial for sectors like agriculture, pharmaceuticals, and manufacturing in India, where timely payments and transparent transactions are critical for maintaining operational integrity.On the other hand, Counterfeit Detection leverages blockchain to combat issues related to counterfeit products, which is a major concern for businesses and consumers alike. By utilizing blockchain’s immutable ledger, organizations can trace the authenticity of products from their origin through to the consumer.
This application is gaining traction, especially in India’s pharmaceutical and luxury goods sectors, where ensuring product authenticity is paramount in maintaining consumer trust and protecting brand reputation. As India positions itself as a hub for manufacturing and innovation, the integration of blockchain in these applications signifies a transformative shift in how supply chains will operate, bringing about significant efficiency gains and operational reliability.Market trends indicate an increasing acceptance of blockchain solutions across various sectors in India, driven by favorable government initiatives and growing awareness of the benefits that blockchain can bring to supply chain management.
The regulatory landscape is evolving as the Indian government and industry bodies recognize the potential of blockchain technology to optimize supply chains, which is expected to further bolster investments in this space. While challenges such as technological adaptation and integration into existing systems persist, the opportunities presented by these applications highlight the promising future of the India Blockchain Supply Chain Market. Ultimately, the emphasis on enhancing transaction security and verifying product authenticity positions the Application segment as a cornerstone of India’s broader blockchain adoption strategy.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Blockchain Supply Chain Market Provider Insights
The Provider segment within the India Blockchain Supply Chain Market is rapidly evolving, focusing on enhancing operational efficiency and transparency in logistics and supply chains. Application and Solution Providers play a crucial role by offering innovative technologies that streamline transactions, improve traceability, and reduce costs, making this segment significantly vital for businesses aiming to leverage blockchain capabilities. Middleware Providers, on the other hand, facilitate seamless integration between blockchain technologies and existing IT infrastructure, ensuring data interoperability and supporting scalability.
The growing adoption of blockchain solutions in India, driven by increasing demand for supply chain transparency and security, offers substantial opportunities for both Application and Solution Providers and Middleware Providers. The Indian government has initiated several projects to modernize supply chains using advanced technologies, presenting a favorable environment for market growth. As industries in India increasingly seek to transform their operations through blockchain, these Providers are positioned to dominate the landscape, offering essential tools and support to navigate the complexities of digitized supply chains.With the market landscape evolving, stakeholders are likely to see significant advancements in efficiency, accountability, and innovation in the supply chain ecosystem.
Blockchain Supply Chain Market Vertical Insights
The 'India Blockchain Supply Chain Market' showcases notable potential within its Vertical segment, driven primarily by the Retail and Consumer Goods sectors as well as Manufacturing industries. Retail and Consumer Goods have emerged as key drivers for adopting blockchain solutions due to the increasing need for traceability, enhancing consumer trust, and improving supply chain transparency. This sector is focused on combating counterfeit products and ensuring ethical sourcing, thereby gaining significant traction.
In the Manufacturing domain, blockchain technology facilitates seamless asset tracking, efficient inventory management, and enhanced collaboration across supply chains.These advantages lead to improved production efficiency and reduced operational costs, making manufacturing a critical area for blockchain innovations. The integration of blockchain in these verticals aligns with India's efforts toward digital transformation and Industry 4.0, which promises to boost efficiency and maintain competitiveness in a rapidly evolving market landscape. As a result, both Retail and Consumer Goods, along with Manufacturing, embody the strategic importance of blockchain, emphasizing their pivotal roles in shaping the future of the India Blockchain Supply Chain Market.
India Blockchain Supply Chain Market Key Players and Competitive Insights
The India Blockchain Supply Chain Market has been rapidly evolving, characterized by a dynamic landscape of opportunities and challenges that cater to various sectors, including logistics, manufacturing, and retail. Blockchain technology, with its secure and transparent framework, is becoming a cornerstone for enhancing efficiency and traceability within supply chains. Competitive insights in this market suggest that various players are striving to leverage the capabilities of blockchain to optimize operations, reduce fraud, and improve overall supply chain visibility. Companies are investing in innovative solutions that not only address existing pain points but also set new standards in data integrity and real-time tracking.
This burgeoning market is marked by collaborations, partnerships, and technological advancements aimed at harnessing blockchain's potential to revolutionize supply chain practices across India.Tech Mahindra has established a strong foothold in the India Blockchain Supply Chain Market, capitalizing on its extensive experience in IT services and solutions. The company has been leveraging its expertise in implementing blockchain frameworks tailored to the needs of various sectors. With a focus on enhancing operational efficiencies, Tech Mahindra has developed robust blockchain-based platforms that allow businesses to streamline their supply chain processes, reduce costs, and enhance transparency. The firm’s ability to integrate blockchain with emerging technologies such as Artificial Intelligence and the Internet of Things has further fortified its position.
The presence of a skilled workforce and a commitment to innovation positions Tech Mahindra as a formidable player in the Indian blockchain ecosystem, where its customer-centric approach has been instrumental in earning trust and driving adoption.Accenture is prominently positioned in the India Blockchain Supply Chain Market, offering a suite of comprehensive blockchain solutions designed to enhance operational efficiencies and improve supply chain management. Known for its consulting prowess, Accenture provides services that facilitate the adoption of blockchain technology across various industries, addressing specific business challenges within supply chains. The company emphasizes strategic partnerships and collaborations to foster innovation and expand its market reach.
Key products and services offered by Accenture include supply chain optimization tools powered by blockchain, which help organizations achieve better traceability and accountability. Additionally, Accenture's strength lies in its ability to execute large-scale transformations and its proven track record of mergers and acquisitions aimed at enhancing its technological capabilities. This adaptability allows Accenture to leverage its extensive resources and partnerships to drive blockchain initiatives, making it a critical player in shaping the future of supply chain solutions in India.
Key Companies in the India Blockchain Supply Chain Market Include
India Blockchain Supply Chain Market Developments
The India Blockchain Supply Chain Market has seen notable advancements recently, with companies like Tech Mahindra and Tata Consultancy Services actively engaging in innovative projects. In October 2023, Accenture announced partnerships to optimize logistics using blockchain technology, highlighting the shift towards transparency in supply chains. Nucleus Vision is focusing on integrating Internet of Things devices with blockchain to enhance data security. Moreover, Elemential Labs is developing solutions aimed at improving traceability in agricultural supply chains, addressing food safety concerns that have emerged significantly during the pandemic.In terms of mergers and acquisitions, Primechain Technologies and Zebi both experienced growth in market valuation, contributing positively to the overall environment in the Indian blockchain sector.
Major corporations like Walmart have also begun to explore blockchain to track products in their supply chains, signaling a shift in traditional operational frameworks.Significant happenings over the last few years include the establishment of Bharat Blockchain in 2022, which aims to leverage blockchain for government services, improving efficiency. As of September 2023, IBM has been expanding its blockchain capabilities in partnership with various Indian logistics firms, showing a clear trend towards collaborative technology integration within the Indian supply chain ecosystem.
India Blockchain Supply Chain Market Segmentation Insights
Blockchain Supply Chain Market Application Outlook
Blockchain Supply Chain Market Provider Outlook
Blockchain Supply Chain Market Vertical Outlook
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 65.33(USD Million) |
| MARKET SIZE 2024 | 90.94(USD Million) |
| MARKET SIZE 2035 | 8825.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 51.577% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Tech Mahindra, Accenture, Nucleus Vision, Elemential Labs, Chronicled, Credits, Primechain Technologies, Zebi, Tata Consultancy Services, Koine, Biji Corporation, Bharat Blockchain, IBM, Kodak, Walmart |
| SEGMENTS COVERED | Application, Provider, Vertical |
| KEY MARKET OPPORTUNITIES | Increased transparency in transactions, Real-time tracking and traceability, Enhanced fraud prevention measures, Cost reduction in logistics, Improved stakeholder collaboration tools |
| KEY MARKET DYNAMICS | transparency in transactions, enhanced traceability, reduced fraud risk, improved efficiency, increased trust among stakeholders |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Blockchain Supply Chain Market is expected to be valued at 90.94 USD Million in 2024.
By 2035, the India Blockchain Supply Chain Market is projected to reach 8825.0 USD Million.
The expected CAGR for the India Blockchain Supply Chain Market from 2025 to 2035 is 51.577%.
The Payment & Settlement application segment is expected to grow significantly, reaching 3000.0 USD Million by 2035.
The Counterfeit Detection application segment is anticipated to be valued at 5825.0 USD Million by 2035.
Major players in the market include Tech Mahindra, Accenture, IBM, Tata Consultancy Services, and Walmart among others.
The Payment & Settlement application is valued at 30.0 USD Million in 2024.
Emerging trends include increased adoption of blockchain for transparency and efficiency in supply chains.
Global conflicts may affect supply chains and drive demand for blockchain solutions to enhance reliability.
The growth outlook for the India Blockchain Supply Chain Market is robust, driven by increasing investment and technological innovation.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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