Indeed. The starting salaries of fresh grads in (Wipro/Infosys/TCS/etc.) has been stagnant at INR 300,000 to INR 350,000 / year for the last 10-15 years. Converted to USD this is: ~ 4000 - 4700 / year.

20 USD / hour * 8 h/day * 21 days/month * 12 months = ~ 40,000 USD / year.

Of course, experienced ones don't receive that might higher salary either. About 5 years of experience would probably get you around double to triple the starting salary.