India's Crypto Market Set to Soar to $14.21B by 2034
India's cryptocurrency market is on track to experience significant growth, according to estimates from IMARC. The firm predicts that the Indian crypto market will expand from approximately $3.04 billion in 2025 to a whopping $14.21 billion by 2034.
This represents a staggering 4.7 times increase in just nine years, which is not solely due to an expected surge in cryptocurrency purchases by Indians. The forecast encompasses the broader ecosystem, including exchanges, payments, remittances, wallets, and blockchain software.
Notably, India has implemented taxation on Virtual Digital Assets (VDA) gains at 30%, while qualifying transfers face a 1% Tax Deducted at Source (TDS) mechanism. Despite these regulatory hurdles, adoption of cryptocurrencies in India continues to accelerate.