Pradeep Bhandari, spokesperson for India’s ruling BJP party, advocates for a Bitcoin reserve pilot, emphasizing its importance for economic resilience. In his article for India Today, he highlighted the U.S. and Bhutan's strides in cryptocurrency, arguing that India's renewable energy resources position it to develop a sovereign Bitcoin strategy. Currently, India has a stringent crypto tax policy, imposing a 30% tax on profits from digital asset sales, yet lacking a clear regulatory framework. During India’s G20 presidency, Bhandari mentioned the coordination of a crypto working group with the International Monetary Fund, while cautioning that other nations, including the U.S. and G20 members, are rapidly advancing their crypto efforts. He posits that India needs to establish regulatory clarity through a sovereign Bitcoin reserve initiative to foster innovation and transparently protect investors, telling that a measured Bitcoin strategy could enhance economic stability and showcase modernity in finance.

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