India is not Japan or China. India is a poor underdeveloped third world country. So, whatever happens in India about Cryptos is immaterial to me and has no consequence in the world finance. If the India government likes let it also ban bathing or eating, the rest of the world won't care.
While this is may what some people think, India is a huge market that companies are flocking to -- such as Apple, Google, etc as they have all already sold their products in china and consider India as the new frontier with a billion or so people to try to sell too.
India isn't a third world country, they may be poor but I wouldn't consider them third world. Crypto could play a large role in India, as if these big companies see a market in India then we MUST see an opportunity for Crypto growth in India. I don't know about the big banks in India personally, but I could assume that they have the same corruption and such problems which are present in the United States (and other world nations)