India doesn't officially recognize stablecoins, though they're used in informal channels like remittances and DeFi. There's no licensing or legislative framework for stablecoin issuance. Meanwhile, the RBI is pushing forward with its e-rupee CBDC, currently in pilot for both wholesale and retail use, while the broader crypto industry is under a heavy tax regime (30% plus 1% TDS), and regulators are reviewing new VDA (Virtual Digital Assets) rules.
