Overview

• Piyush Goyal said in Doha that India will introduce a Reserve Bank–guaranteed digital currency aimed at faster, traceable, paper‑light transactions.
• He stressed that cryptocurrencies lacking sovereign or asset backing are not encouraged and remain legal but face deterrent taxes.
• India currently imposes a 30% tax on crypto trading income and a 1% TDS on transactions above ₹10,000, with losses barred from set‑offs.
• The rollout builds on RBI pilots launched in late 2022, with CBDC circulation reaching about ₹1,016 crore by March 2025, according to RBI data reported by PTI.
• During the visit, Goyal said India and Qatar target finalizing a free‑trade agreement by mid to the third quarter of next year, with 2024–25 trade exceeding $14.15 billion.