I think you are pretty wrong on that mark. I know fairly good devs in India who can't get a job because most pays so bad that they end up either switching the field or moving to somewhere abroad. Sometimes, they just wander around like ghosts on family money. Unlike US, it's not uncommon to spend your whole life with your parents/joint family.

To get a good job in India, you will need more than skills - connections and a limited edition degree.