Things have changed significantly and management purges are very common. And once you lose your job, finding a new one is hard, because to be frank you have no real skills apart from Microsoft Excel.
In many cases there have been people who lost jobs and didn't get a new job in over an year and had to move tech roles eventually. Some people had to change career tracks(get into marketing etc) permanently. So there is now a dedicated incentive to stay in the technical track.
Also in the current age, moving to a non-tech job is the long term equivalent of choosing a non-STEM career.
Often the challenging/interesting bits in those scenarios are done by the US/European/Australian office, and only the implementation details are left to the Indian workers. That isn't conducive to being valued as an engineer.
Management tracks also have higher salaries. If you want to continue in engineering and still make good money, you get a H1B or equivalent and move.