I am India and this title is totally misleading. The news is that this is a draft bill. This can be rejected or can be changed . No one is going jail for holding crypto as of now. This is a just a new article that this is a draft bill and this might happen. And we all know how much FUD news come in crypto market. So personally i will wait for official government bill.
We all know that those news agencies work dirty and will put misleading title so just people will click them. But I agree with you man, you have 5M of your people involved in crypto and that is a lot. Your number will definitely change their mind and you guys better start doing a campaign in India and how blockchain could help your economy to make them on your side.