Subject title is bullshit. India did not outlaw gold. As always was the case, gold can be purchased with after-tax money.
The new thing is that the gov is now demanding that all gold be shown to be purchased with after-tax money. And, apparently, resorting to draconian measures to determine if each person's gold above some threshold has been purchased accordingly.
But it has not made gold illegal.
I can't even read the damn article, because I have an ad blocker which precludes me from doing so. I am unwilling to disable it just for this site. And yeah, I doubt there's much that's going to become of this.
If India were to pull some shit like this, then yes bitcoin might benefit. Don't know how many Indians actually use bitcoin--does anyone know?