I believe this is a big step towards opening the crypto market and economy to the people of India, especially the micro-payment features of some altcoins. I'm guessing their ruling on making Bitcoin legal applies to every blockchain coin, so I'm sure some more efficient micropayment coins out there will be growing more rapid that Bitcoin will be from this news.

I'd still give it time to settle and spread, a lot of low income individuals will soon see the crypto community as a way to survive, or even thrive. :)