People in India tend to shun tech which they perceive to be even slightly difficult; also many trade on the go on mobile devices.
Another thing which i hv pointed above and think is relevant is the lack of concern on privacy; most ppl just dont take it seriously...
As far as we have noticed, it's human nature worldwide to avoid doing anything the more difficult way, if an easier way exists.
The low number of PC users seems more likely to be a major reason, as was suggested early in several related threads.
If I understood right from this podcast, the number of PC users is less than 10% of India's population?
If so, Bisq still leaks and consumes so much memory, that maybe only a small number of those have enough memory for it.
By then, we are in the millions or 100's of thousands users. Maybe only a few percent are interested in Bitcoin, which brings us to 100's or 10's of thousands.
Among those, some small percentage understand that centralized exchanges collect their data for future use, and once enough is collected, it will be useful and available to the government for looting and punitive actions.
That remnant number seems still likely to be more than 2 in a thousand, or even 2 in a hundred in a country with so many IT related workers, which tend to be well educated, logical, familiar with fundamental nature of the government business model, etc...
Is it known how many users Bitbns and formerly Wazirex have?