It’s not that there is a lack of talent. I’ve seen many enormously talented developers. However, the very best won’t work for Indian salary levels
No, there is something more complicated going on. India has a space programme and nuclear weapons. They have the talented engineers to make that happen. I guarantee those engineers are not all “we are facing an issue” and “please do the needful” like everyone who has dealt with Indian IT has heard when they lack the basic competence to do the job. So where is the disconnect?