Disagree. Let's assume 25% of a graduate SV salary is $25k. That's €20k. With this salary you can only hire bottom of the barrel graduates in Portugal (cheapest country in western europe) since most graduates leave to other EU countries. With that money, in India you can get many more graduates with good English proficiency from world-class universities that are extremely hard to get into. Plus cultural barrier is overrated, if there is a barrier it's only disappearing in this internet era.