Being in the industry for sufficient time and having worked various countries both in India and abroad. I've observed few things that might provide some insight as to how -
There is a clear distinction between what Software Engineering means in India and other countries e.g USA etc. The entire IT industry in India is built on top of services market, here, commodities are cheaper and thus Software is cheaper to build compared to other countries. Thus to fulfill this necessity startups, MNC's hire cheap
inexperienced resources to do their work with one or more senior devs just to manage them. This makes sense as I would do the same if I was leading a company as well.
Now coming to a different problem, what should the senior devs do in order to cope up with the Indian market (business model). There are following ways to approach this problem - Specialization, Research, Management, or Business? One can look at this as a possible destination to reach -
1. Specialization - Choose a domain and become a master at it.
2. Research - Choose a field and become a master at it.
3. Management - Choose an industry and learn all the ins and outs
4. Business - Invest the money earned do something that you love and hopefully make money out of it!
I'd recommend not to get bogged down thinking about these things if you have < 10 years of experience. The industry is going great and there are lot of opportunities in the world.
The only people suffering are the ones that haven't improved their learning and stuck doing the same thing over and over again.