There is no official statistics of black market in India. It is thought to be epidemic. Some estimates puts India at the top of all the countries int he world whilst others dispute the figures. Regardless of India's position in the black market world, it is widely acknowledged to be very large and a major concern for the government of India.
It is probably because of this that India is very cautious with cryptocurrencies. The irony is the banning of cryptocurrencies itself would create a black market for cryptocurrencies.
This article by The Economic Times explores the six ways in which black money is created.
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