Slowly many other Indian exchanges will leave Indian market. We are seeing red tepism at its best to stop people using crypto exchanges by issuing arbitrary regulations. if you remember Zebpay, they were the first ever Indian crypto exchange and they were also the first crypto exchange to leave India and move to Singapore. Now they are prospering and providing services to 30+ countries.
Sad state of affairs, really! Unless the political and regulatory influences are reduced in Indian crypto space, many other company will leave soon. If they do not leave, the banking system will start non-cooperation to force them to leave.
I feel now that the government is only focusing on getting traders to trade on Indian local exchanges. OKX was an international exchange which was asked to follow FIU directives. The declined and exited Indian market because the Indian government must be asking more data. After the election is completed they would come up with more harsh policies for international crypto exchanges.