India have got 30% tax on gains. Along with it there is a 4% cess and on trading there is 1% tds. Thats a huge money, apart the bitcoin ATMs charge a hefty fee of 15-20% which makes buy/sell using bitcoin.
That is some messed up stuff. The Indian government tried banning all cryptocurrencies again and again only to fail miserably which is why this is their new strategy to try and regulate the crypto world.
BTC ATMs in countries like India are completely useless since you will end up spending way more than required to purchase BTC.