印度預算前2025年：數字資產社區尋求有利的監管框架

印度財政部長尼爾馬拉·西塔拉曼（Nirmala Sitharaman）將於2025年2月1日提出2025-26財政年度的工會預算。

India’s digital asset community is pinning its hopes on the upcoming Union Budget 2025, anticipating favorable regulatory changes that will breathe new life into the once-thriving crypto markets. The current policy landscape, marked by a 30% tax on profits and a 1% Tax Deducted at Source (TDS) on transactions, has dampened digital currency markets and pushed traders to offshore platforms, reducing liquidity and momentum.

印度的數字資產社區將其希望寄託在即將到來的2025年工會預算上，預計有利的監管變化將為曾經爆發的加密貨幣市場帶來新的生活。當前的政策格局以30％的利潤稅和交易中扣除的1％稅收稅，使數字貨幣市場削弱了，並將交易者推向離岸平台，降低了流動性和勢頭。

This year’s budget holds special significance as India’s digital asset exchanges are likely looking at consolidation in 2025, with smaller exchanges either shutting down operations or merging with larger ones due to the country’s punishing taxation regime.

今年的預算具有特殊意義，因為印度的數字資產交易所可能在2025年關注合併，由於該國的懲罰稅收制度，較小的交易所要么關閉運營或與較大的交易所合併。

“The Union Budget 2025 is on the horizon, and India’s cryptocurrency community is holding its breath, eagerly awaiting a glimmer of hope in the regulatory framework. The current policy landscape has cast a pall over the once-thriving crypto markets,” Raj Kapoor, founder of India Blockchain Alliance (IBA), told CoinGeek.

“ 2025年工會預算即將到來，印度的加密貨幣社區正在屏住呼吸，熱切地等待監管框架中的一線希望。當前的政策格局對曾經爆發的加密貨幣市場產生了巨大的影響。

Making digital currencies an allowable asset class, like stocks or bonds, with provisions for loss offsets and carry-forward mechanisms, could restore liquidity, attract global players, and strengthen India’s role in the blockchain space, industry leaders say.

行業領導人說，將數字貨幣作為允許的資產類別（例如股票或債券），並提供損失抵消和隨身攜帶機制的規定，可以恢復流動性，吸引全球參與者並加強印度在區塊鏈領域中的作用。

“The Web3 ecosystem, with its decentralized platforms and applications, holds transformative potential for India’s digital economy. However, its growth has been impeded by existing tax structures and regulatory ambiguities,” pointed out Amit Kumar Gupta, a legal practitioner at the Supreme Court of India.

“ Web3生態系統及其分散的平台和應用程序對印度的數字經濟具有變革性的潛力。但是，印度最高法院的法律從業人員阿米特·庫馬爾·古普塔（Amit Kumar Gupta）指出，現有的稅收結構和監管歧義阻礙了它的增長。

“Clear and progressive regulatory frameworks are essential to foster growth in the Web3 space. Providing explicit guidelines can reduce uncertainty, encourage compliance, and attract both domestic and international investments,” Gupta told CoinGeek.

“清晰而漸進的監管框架對於促進Web3空間的增長至關重要。提供明確的準則可以減少不確定性，鼓勵合規性並吸引國內和國際投資，”古普塔告訴Coingeek。

India is expected to lose $1.2 trillion in trade volume on domestic digital asset exchanges in the coming years, according to the Esya Centre, an Indian policy think tank. The study also highlights that harsh tax measures have driven $3.85 billion to foreign digital asset trading platforms as traders seek to avoid the heavy tax burden in India.

印度政策智囊團Esya中心表示，未來幾年，印度在未來幾年內將在國內數字資產交易所損失1.2萬億美元的貿易量。這項研究還指出，隨著交易者尋求避免印度的沉重稅收負擔，嚴厲的稅收措施已向外國數字資產交易平台付出了38.5億美元。

With global innovation hubs on the rise, India risks falling behind if it maintains its cautious approach. The question remains: Will the government embrace bold reforms in this year’s Budget, or will it continue with slow, incremental changes for the Web3 industry?

隨著全球創新樞紐的上升，印度的風險落後於其謹慎的態度。問題仍然存在：政府是否會在今年的預算中採取大膽的改革，還是會繼續對Web3行業進行緩慢的變化？

“It’s high time to adopt a clean mix of policies that seamlessly integrate visionary regulation with bold incentives. Regulatory clarity is the foundation of innovation…opaque policies breed fear, but clear, comprehensive frameworks that define legal boundaries for cryptocurrencies, tokenized assets, and decentralized finance (DeFi) will bring in a new world of innovation,” Kapoor said.

“現在是時候採用清晰的政策組合，將有遠見的監管與大膽的激勵措施無縫整合。監管清晰度是創新的基礎……不透明的政策滋生了恐懼，但清晰，全面的框架定義了加密貨幣，標記資產和分散的財務（DEFI）的法律界限（DEFI）將帶來一個新的創新世界，” Kapoor說。

“As blockchain transforms industries from finance to logistics, those that embrace its potential today will wield the competitive edge tomorrow. It’s not just about keeping pace with change—it’s about leading the charge and reshaping the rules of global commerce,” Kapoor added.

“隨著區塊鏈將行業從金融轉變為物流，那些擁抱其潛力的行業將明天發揮競爭優勢。這不僅是要與變革保持同步，還涉及領導指控並重塑全球商業規則。”卡普爾補充說。

Nasscom, India’s top IT industry association, has urged reforms in this budget to bolster the nation’s IT and startup sectors.

印度最高IT行業協會NASSCOM敦促在預算中進行改革，以加強國家的IT和初創企業領域。

“We have requested to implement a range of ease of doing measures to significantly boost competitiveness for IT-BPM (business process management), e-commerce and startups. These measures should boost efficiency for the broader industry,” Nasscom said.

“我們已要求實施一系列易於採取措施的範圍，以顯著提高IT-BPM（業務流程管理），電子商務和初創公司的競爭力。這些措施應提高更廣泛的行業的效率。” Nasscom說。

The industry body has proposed the establishment of a central DeepTech fund and creating a grant framework to support the DeepTech ecosystem. It also recommends providing equity funding for early-stage DeepTech startups through a dedicated fund.

該行業機構提出了建立中央DeepTech基金的建立，並創建了支持DeepTech生態系統的贈款框架。它還建議通過專門的基金為早期DeepTech初創公司提供股權資金。

Nasscom highlights that DeepTech startups are at the forefront of innovation, utilizing advancements in science and engineering to address complex, real-world challenges. These startups focus on technologies such as artificial intelligence, the Internet of Things (IoT), blockchain, quantum computing, advanced materials, biotechnology, and more.

NASSCOM強調，DeepTech初創公司位於創新的最前沿，利用科學和工程學的進步來應對複雜的現實世界中的挑戰。這些初創公司專注於人工智能，物聯網（IoT），區塊鏈，量子計算，高級材料，生物技術等技術。

India is home to over 3,600 DeepTech startups, which make up about 12 percent of the country’s total startup ecosystem, according to Nasscom.

據NASSCOM稱，印度是3,600多家DeepTech初創公司的所在地，佔該國最初創業生態系統的12％。

“The emergence of 211 new healthcare startups and the adoption of artificial intelligence and machine learning by 4,000 startups have driven a remarkable 28.03% growth in health-tech investments over the past year,” Harshit Jain, founder and global chief executive of Doceree, said in an emailed statement.

Doceree的創始人兼全球首席執行官Harshit Jain Jain說：“在過去一年中，有4000家初創公司的211家新型醫療創業公司的出現以及4000家初創公司通過4000家初創企業的採用人工智能和機器學習的效果增長了28.03％。”在電子郵件聲明中。

“This momentum underscores the need for the upcoming Budget to focus on expanding India’s health-tech startup ecosystem through substantial tax relief and targeted incentives to empower practicing and aspiring healthcare entrepreneurs to further amplify the benefits of ongoing government initiatives for healthcare like the Ayushman Bharat Digital Mission,” Jain added.

“這種勢頭強調了即將到來的預算的需求，以專注於通過大量稅收減免來擴展印度的健康技術新興生態系統，並有針對性的激勵措施賦予實踐和有抱負的醫療保健企業家的能力，進一步擴大了諸如Ayushman Bharat Digital Car.任務，” Jain補充說。

Doceree uses AI, machine learning, and behavioral science to create a connected healthcare ecosystem.

Doceree使用AI，機器學習和行為科學來創建一個連接的醫療生態系統。

Additionally, prioritizing the creation of a dedicated financial pool for technology-driven solutions is essential to accelerate drug research and development, improve patient outcomes, and lower clinical trial costs. According to Jain, allocating resources for healthcare data management to enhance digital adoption across the sector can pave the way

此外，優先考慮創建用於技術驅動的解決方案的專用金融池對於加速藥物研究和開發，改善患者預後和降低臨床試驗成本至關重要。根據Jain的說法，為醫療保健數據管理分配資源以增強整個行業的數字採用可以鋪平道路