At first look that's what our Hon'ble finance minister has to say about the draft.
"They have gone much ahead of all other countries that have thought about it. It’s a very futuristic and well-thought-out report. I have not spent time on it after the presentation."
Indian Finance Minister Addresses Crypto Proposal - Industry RespondsReaction Finance Minister ‘Misinformed’
Varun Sethi, founder of Blockchain Lawyer, shared some thoughts with news.Bitcoin.com on the finance minister’s reply to The Economic Times. The “finance minister has apparently not stated anything negative,” he said. Since her position “falls under the Ministry of Finance, under whom the Department of Economic Affairs also falls, so ideally the report is made under her ministry only,” Sethi added. Noting that the chances of her “commenting publicly against the report don’t stand,” he opined:
"There is surely no doubt that Indian report is rather comprehensive however she has reserved her comments about her thoughts post the issuance of report, thereby the reactions by the community are yet to be captured."
Responding to the finance minister’s comments, Nischal Shetty, CEO of local crypto exchange Wazirx, tweeted to Anurag Singh Thakur, Minister of State for Finance and Corporate Affairs. “Misinformation about crypto has reached our FM due to the flawed crypto report. Ban is never a futuristic solution to anything. Report does not even classify crypto correctly. Please give the crypto industry an opportunity to represent,” he emphasized.
"This is probably the first time she’s spoken about crypto. It’s a start and while her comment is from only one side, the flawed crypto report, we’re hopeful she gives the crypto community of India a chance to present our view of crypto."
~snip~
Sooner or later they are going to adopt everything, it's just a matter of time and if by any chance something goes wrong in a long run then, a good amount of
BTC multi-millionaire will not hesitate to move out from India and rightly so.