NASSCOM CoE to host conclave to catalyze US$ 500 bn business opportunity in Metaverse 


Considered the next frontier in the Digital revolution of India, Metaverse is going to revolutionize the way people connect, communicate, and consume information. According to industry reports, the Metaverse revenue opportunity is expected to reach $800 billion by 2024 globally, which really speaks to the quantum of transformation that has just begun. The first-of-its-kind Metaverse Conclave, being held on 13th October 2022 in Bengaluru, aims to bring together industry leaders to spur engagements and discussion around future business opportunities and innovations in the Metaverse ecosystem.  

Organized by NASSCOM CoE (Centre of Excellence) with Meity and K-Tech, the day-long event on the theme ‘Metaverse: Entering Into a New Reality’ is supported by Industry partners like Innover,, Aditya Birla Fashion Retail, Natixis, and KAS (K-Mart Australia). The forum will bring together over 200 delegates and stakeholders of the ecosystem including, large tech and non-tech enterprises, builders, innovators, investors, consultants, and key participants from the academia, to collaborate and exchange ideas for driving and leading the Metaverse revolution in India. Speakers at the event will include leaders across brands like Microsoft India, LuLu Group India, ACG, ABFL, Arvind Fashion, Mahindra Group, Britannia, Airtel among others. On the sidelines of the event, CoE will also unveil a report on the innovation ecosystem and business opportunities in Metaverse. The report will also elaborate on the current state of the market, important milestones, and players in the Metaverse universe.  

Sanjeev Malhotra, CEO, Centre of Excellence, said, “Metaverse is going to revolutionize and create a powerful way for consumers and businesses to interact. Growing rapidly from the early stage of development, adoption and implementation, Metaverse is the new paradigm. With its multifaceted benefits across industries and sectors, COE will co-create innovative solutions together with Enterprises and solution providers.” 

Rakesh Prasad, Senior Vice President – Digital Business, Innover, said, “Metaverse has enabled new possibilities for businesses to transform the way they interact with their customers.  It is only a matter of time before the idea of the Metaverse becomes an eventuality propelling business across industries. Innover has already created a niche in the evolving Metaverse space in the US by building tech-support lounges, virtual storefronts, and training modules for multiple esteemed clients. As we foray into India with our Digital Experience studio and Metaverse offerings we are confident that we will successfully rewrite business and customer relations, and help businesses establish a strong, profitable foundation in the competitive Metaverse.” 

 Rajesh Mirjankar, MD & CEO,, said, “ launched its indigenous metaverse platform Kiyaverse to enable businesses to provide their customers an immersive user experience that ensures jurisdictional compliance, data privacy and financial transactions on fiat currency. Kiyaverse eases the process of onboarding customers and enables relevant use cases for Banking & Finance, Shopping, Realty, Training and Culture & Events. Kiyaverse platform provides a modern web architecture with behavioral engagement and analysis to ensure hyper-personalised consumer services and provides APIs to existing platforms. In India Kiyaverse platform has enabled to provide a metaverse ecosystem to businesses with interfaces to India stack. We are honored to be associated with NASSCOM COE IoT for this event on Metaverse that celebrates the strides towards a digital future made real.” 

The conclave will spearhead discussions and showcase use cases across critical/strategic Metaverse Applications across domains including Education, Retail, Automobile, Banking and Healthcare, among others.



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