India is possibly one of the most important countries over the next century because so much of their population is below 30, its a majority for sure. This implies high growth and change to the current economy. Anything is possible but they have to embrace the possibilities of allowing free trade by their people.
It is better to allow legal business and apply a tax if reasonable then to bar and send the industry and its revenue to criminals
India central government decision on crypto currency trading,buying and using will determine if the Indian government will change their decision because there's currently a lot of debating going on their concerning crypto currency. I won't be surprised though because Indian is a tradition country nothing to be expect in such country than the old fashioned ways.
Lets hope they totally legalized bitcoin.
I think both subjects are quite close because India restricts even the free exchange and import of gold because its commonly used as an alternative value holding to government money. Theres more to be gained from allowing citizens to be profitable and free in their trade then trying to restrict it, theres a good chance of India recognising its own growth potential and benefiting from that self knowledge