Any other skilled migrant visa system I know of has a very explicit and fairly high wage minimum to prevent such abuse.
As a result, the stereotypical underpaid Indian engineer is a rarity in Europe. Indian engineers that do end up here are usually amongst the higher skilled and better paid workers.
Hell, it's even common for skilled migrants from outside the EU to get a higher starting salary than their local counterparts (especially those from poorer EU countries) just to meet the wage threshold.