India was promised to be the next giant in Bitcoins (after China). Sadly, that is not the case.
A Christmas Eve present (read: circular) from the financial regulator (Reserve Bank of India) is creating confusion amongst the existing players and has resulted that Bitcoin buying/selling from these exchanges has been suspended.
Reddit is also seeing a trigger on this, with the following post regarding the Buying/Selling of Bitcoins in India.
This page was last updated on December 26, 2013.