After putting a virtual ban on cryptocurrencies, the Indian government is planning to come up with a blockchain solution aimed at combatting Indias counterfeit drugs trade. NITI Aayog aims to combat India's counterfeit drugs trade with the help of the Blockchain technology.
To make things clear here, there is no ban for virtual currencies, dealing with the banking system is not possible in the future, but there is no ban in trading in the market. India being a populous country it is true that they produce more fake products into the market and they are competing with China in that aspect 
, fake medicine is one of the major issues the country is facing as it directly affects lives and this is a major development to counter fake medicine and blockchain made it possible.If i am not wrong Indian Government RBI has given clear statement that Bank will close all the accounts who are dealing in crypto currency and even they have issued notice to all crypto exchanges giving three months of time to close down all business. So i think this is clear indication that government is not allowing to do any trading or deal in crypto currency. It is clearly stated that who ever is crypto currency will be on his own risk and any loss is on their own. So i think even if they come with any new projects that cannot work in India.