The hard part is getting the monero in the first place to put in your cold wallet. The main two options are (1) use an exchange, all of which are either being monitors or blacklisted by india (2) exchange cash in person, good luck doing that in a country that is actively suppressing it
There are platforms like Bisq, which can be used to purchase BTC (although you need a small starting amount of BTC as a minimum security deposit) and then used to swap into Monero. It is both tricky to monitor and difficult to block as it works over Tor. Although I suppose having to go for something so 'exotic' just to privately buy crypto is in itself going to turn away a lot of people.
I thought it doesn't matter if it is known you bought Moreno. When you spend it, that spend can't be traced back to you? Wasn't that the whole point of Moreno?
But if India makes it illegal to obtain monero, then you won't get to that second step of getting to use it. Controlling the on-ramps seems to be the easiest way to regulate crypto, as we saw when Canada started cracking down back in February
