Who cares about India anyway? We survived the exchange ban in China, and IMO any negative government action in India doesn't even come close. I am more concerned about other countries such as Japan, Russia, South Korea, United States and the European Union.
Maybe India is important in the sense that this can be a big market and can easily compensate what we lost in China. In cryptocurrency the more holders and buyers the better it can be for the sustainability of the coin and can help push its value. We need all countries that are interested to be a part of the Bitcoin bandwagon. I can sense that eventually after all the discussions in India, the country will eventually allow Bitcoin under a strictly regulated environment. The same thing can happen in Russia...these countries are taking the time to learn and to talk about Bitcoin further before making the final decision on the matter. It is their right and we have to wait.