A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.
Buysellbitco.in has all the potential to turn into one, maybe an external sponsor would be needed for that.
Well the issue is when you are making an exchange, if you are all serious, have you though about
1. Consumer protection. What will happen if one day you and other customers who have deposited Crores in our bank account to do trading and bank will close or block our accounts due to a regulation notice such as China one. What will happen to our customers money ? In current business model we take all the risks. We never store customer funds on our servers or bank accounts.
2. What will happen if one day we actually lose all your bitcoins ( Not INR ), how you will protect yourselves.
3. Read more about NSEL fiasco.
While I 100% agree and working hard on getting liquid trading exchange in India,it is not advisable to launch it without having consumer protection and Regulation framework cleared.
We need exchange but we do not need fraud case.
As Benosn suggested, Lobbying, educating decision makers, public acceptance is what we need. And trust us, we are all working hard on that.
Regards