Experts claim that demand outweighs supply in India, pushing the Bitcoin price in the country up to 20% higher than international prices.
Some Indian e-commerce platforms have started recognising the digital currency as well. FlipKart and Amazon are already giving customers the option to convert Bitcoin into regular currency and purchase goods with it.
So there is huge demand and this can cause some problems in future so caution is needed when investing as any moment govt or RBI may ban it.
There are capital controls in india. So its domestic market has more demand for bitcoin and other cryptos compared to international markets, especially those located in countries where their currency is more unregulated in terms of going across borders and transferring.
Historically India has always been ahead in terms of price, compared to the world.
No big surprises, and also it's not indicative of the future prices because it's a demand problem. It's not like India is leading the way on international markets with prices moving before the rest, it doesn't, because otherwise it would tank in the opposite direction too and it's not doing that.
So from an arbitrage point of view, there is potential to exploit this. But I'm assuming loopholes are close to none because the markets are showing this through the inflated prices.