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Indian Multi-Industry Survey Shows 97% Awareness of Bitcoin


A survey released on Wednesday by a leading Indian trade and industry body found that 97% of respondents across multiple industries are aware of bitcoin. While the group calls for more regulations, the survey sheds light on the opportunities Bitcoin can offer the country.

Also read: Indian Bitcoin Hotspot Bangalore Sees 50+ Merchants Added This Month

The Roundtable and Survey

India’s leading trade and industry body called the PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday hosted a “Roundtable on Industry Perspective on Bitcoins: A New World of Transactions and Payments.” PHD stands for Progress, Harmony, and Development.

Founded in 1905 and headquartered in New Delhi, the chamber is a non-government, non-profit industry-led and industry-managed organization which claims to work with the government. It has a direct membership of over 1,600 corporate entities and serves more than 45,000 indirect members in the business community.

At the event, the PHD Research Bureau released a survey-based report outlining the present status, mechanism, regulatory aspects, and future prospects of bitcoin in India. The survey asked 223 stakeholders, from industries such as garments, textiles, drugs and pharmaceutical, electronics, machine tools, auto components, and leather, according to Money Control. The publication wrote:

The study found that 97 percent of the respondents were aware of bitcoins.

However, none of the respondents have actually used bit...

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