Will bitcoins be recognized by the Indian Government ?
Bitcoins are already legalized by the Indian government just few months ago and most of the Asian countries are started to legalizing bitcoins after India made bitcoin legal in their country.The current president of India want to go cashless economy so they are encouraging all their countries in India.And If you want to buy bitcoins in Indian currency you can buy them st localbitcoins.com because one of my friend from India trading bitcoins through localbitcoins exchange and Indian traders giving us best offers for us than other parts of world.
It seems to me that legalization is another. Finally legalized bitcoin is only when you can exchange bitcoin to any Bank in the country. It is not. The fact that bitcoin is not forbidden that does not mean its legalization. I think that until the Americans will not indicate its position on bitcoin, we will not see a full legalization in all countries.
Countries like America would not be in a haste to make legal statement about the bitcoin legality. This is because, bitcoin is valued above every fiat and America "pride" itself about there dollar currency; so making such statement would mean outright subjugation of there pride.
Also, the economy of America is better off and they might not want anything thing that would help other countries to equal them financially and in status. They want to continue playing the "big brother" role.
The point then is, countries that will be quick to legalize it are countries that are more or less need to support their economy.