Not only in Indian but also in some countries, too they considered cryptocurrency as a ponzi scheme. And the fact that it is not easy to change their mind and to divert their trust in bitcoin. If India will going to ban bitcoin, it could be doomed for bitcoin and surely affect the market because of decreasing of the btc supporters and patronizers.
Well, it is not final yet. So, let's just hope that Indian government will think twice and reconsider such positive scenarios.