AFter some months when All other big country have used the bitcoin as currency and are running perfectly after this only India will start to think of legalizing Bitcoin. Because India never takes first step for any new ideas.
There might be reasons for that.
It is a risk, maybe that is what they are thinking.
Too much of capital is needed. One more good reason.
Being a country with a low value of currency will make it hard to adjust specially their technology.
Japan could do it because they have been one of the countries with great technologies.
It will be easier for them to make good use of bitcoin.