India · CoinDesk
India's richest state is exploring tokenizing its own assets to fund new infrastructure
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★ Tier-1 Source
The Indian state of Maharashtra is developing a policy to bring its own assets onto blockchain, including a potential tokenization of electricity transmission infrastructure, with proceeds used to fund new power lines and energy storage.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- Discoms pay “16 to 18 rupees a unit” at peak, he said, versus a rate of “2 paisa” on the power exchange during surplus hours
- The transmission lines can themselves be tokenized, not fully, but even 40%, 50% of that,” Pardeshi said
- Maharashtra, India’s richest state, accounting for roughly 14% of India’s nominal GDP and with a population of about 130 million, is looking to use this technology to move well beyond bonds
Summary
Maharashtra is developing a policy to tokenize state-owned assets, potentially allowing citizens to invest in public infrastructure and share in the income it generates. A top official discussed the tokenization of state electricity transmission and real estate at the private event held in Mumbai. The state is also drafting the “DELTA Act,” which could make Maharashtra the first Indian state with a dedicated law governing blockchain-based property tokenization. "Maharashtra is working on a policy, so that we can create a policy which is conducive to government of Maharashtra bringing its assets under tokenization,” said Praveen Pardeshi, CEO of MITRA, or Maharashtra Institution for Transformation, a policy body under the state government.