This is shortsighted view and is popular among relatively poor countries, it is hard to tell why.
India as well is banning crypto, moreover it seems that they are banning crypto every second day.I thnik it is sad since they are losing valuable economic growth.
If the india going to ban a bitcoin or crypto. It will be blender done by the government,because bitcoin will rule the world economy. India a very huge people based economy, if you make and sell a product their. You will sold out maximum and should avoid the price reduction further.
We are talking about a country that tried to ban internet and computer (three decades ago). So it is not surprising that they are trying to ban cryptocurrency. And from what I have heard, as a first step they have blocked the IP addresses of various online wallets and cryptocurrency exchanges. These idiots don't even know that blocking IPs don't work nowadays. Anyone can access these sites using a VPN or a web proxy.