#Metaverse is an analogy of the Internet, by combining the powers of social networking, AI, Augmented Reality and Virtual Reality – Metaverse offers endless possibilities to imagine a newer and just society. Currently, India’s AR and VR Market stands at approximately $1.83 billion and is set to grow at a staggering CAGR of 38.29% until FY2027. This growth is said to further be accelerated by the digital transformation of the country; a process that is aided by the IT boom caused by the pandemic and ensuing global lockdowns. Experts say, it’ll be the key to improve skilling in India, like can we share the workplace experiences to those living in rural India and Tier 2-3 towns? Maybe Metaverse has or is the answer. People staying anywhere in India can now get virtual and immersive tours of shop floors without having to travel to factories in big cities. This reduces onboarding costs, and makes a wider pool of talent available to all companies. Today’s world is increasingly becoming a gig economy. To perform and become a leader of this new world, India needs to move from a labour-intensive economy to a knowledge-based economy. This means focusing on bettering our worker’s ability to create as opposed to just support ancillary functions. By offering workers a customizable range of concepts and skills that they can easily pick up using this technology.

The metaverse is entering into a stage of heavy development. Smaller crypto projects, creators, and games produce content and meta platforms alongside huge tech giants like Google and Facebook (Meta). As the trend has picked up, tech giants with platforms that already complement the metaverse have begun their own developments. India is at an interesting stage of transition within the global economy. The rising focus on India can be attributed to India’s operating conditions and cost competitiveness. Reforms to both land and labour laws are critical to India’s success as a global manufacturing location. Metaverse.