While it is true that my PhD experience at UC Santa Barbara was crucial to my network of collaborators and work on Julia, there are several contributors to Julia from India who have not gone for graduate studies abroad. There are many contributions from undergraduates as well. I am just glad that Julia is a living breathing open source project with significant contributions and work from around the world, including India.
I don't think that IITs or IISc or institutions are deciding factors. I feel that people who do interesting stuff (not just in software, but in all aspects of life) do it despite their backgrounds, conditions, and other labels. Of course there is poverty, and lack of basic education for millions of people, but there are also millions of people in India, and the rest of the world, who have the skill to do very interesting things.