Cheap isn't everything. China is cheap. Thailand is cheap. Malaysia is cheap. They don't have the massive infrastructure problems that India has.

Personally I (or any sane person) wouldn't want to just live in a nice house, then sit in a chauffered car, stuck in traffic for hours, while avoiding looking out to see bum/garbage/slum/dirt/smog/chaos, then arrive in a nice office, then eat lunch and hope it doesn't make me sick, then go back home again.