For the uninitiated, India has already been at the forefront of crypto innovation with companies like WazirX (now acquired by Binance), CoinDCX, BitBNS, Marlin, Matic, Persistence, EasyFi, OroPocket, Persistence, raising multi-million dollars in investments. Currently, the daily volumes in exchanges are a little less than ten million dollars, which is minuscule compared to the daily global volumes, but the interest is increasing day by day.
India already has the world's largest software services capability which gets extended into blockchain development too. There is no doubt about India's readiness to take this industry to the stratosphere.
But the real question is the need for an inclusive government and regulatory acceptance of some form, which will accelerate this industry and make India the most favored destination for crypto-related activities too.