Better in what sense? India might be poor (not a bad thing for attracting investment) but it's stable compared to Africa. South Africa is sort of stable but not compared to India and overall there's just no reason to invest in a region where you might have all of your equipment lost or stolen. Altruistic investors might feel differently of course but by definition they care less about returns then most other investors.

Countries with incompetent governments like Argentina also routinely do weird things like nationalize companies if they are mostly owned foreign investors. It's not like Argentina is a self sufficient economic powerhouse. They have lots of problems yet they keep executing strategies that can only drag the country down.