The Indian cryptocurrency industry is lobbying for tax cuts, as trading outflows prompt policy relaxation

ChainCatcher news, according to the Financial Times, the Indian cryptocurrency industry is actively lobbying the government to reduce the 30% capital gains tax and 1% transaction tax implemented since 2022.

Currently, the high tax burden has led to over 90% of crypto transactions flowing overseas. With Trump likely to return to the White House and publicly support digital assets, the Indian government's attitude towards the crypto industry is becoming more lenient. The frequency of communication between the industry and policymakers has increased from once every six months to monthly or even weekly.

Accounting firm Grant Thornton expects the Indian crypto market size to grow from the current $2.5 billion to over $15 billion by 2035.