Definitely valuation of Indian currency against dollar is on the weaker side. Nevertheless, its just the beginning in the crypto space for many Indians-- we are catching up. This slow growth is majorly due to the fear among investors, as most of us in India are very cautious about money. The entire principle on which investments work in India is "rather keep it safe than lose it all"
RE: What Does It Take to Be a Cryptocurrency Investor in India?: My Story