Hi, I'm from India. I totally hear you.
India is a diverse country with huge population and internet penetration is getting better. But, I still have few problems. I'll list it below, perhaps lets see if you can relate with them.
Problems
1. Co-founder Problem:
Most Tech People here learn technologies, lets say programming languages, because thats what they teach them in college. Most of them don't have a nag, or sense of technology at all. Pure geeks are scarce resource, kinda of people who learn technologies because, they want to learn them. Here Most of the people follow money. Many people are in software industry for the simple reason, thats where they can get most money. If theres a better oppurtunity to make money making omlets, most of the software companies will have hard time finding employees. The culture in southern asia makes it touch to find people, who does stuff, because they like doing it.
2. Oppurtunity Problem:
I've researched for past few months, and found there is really a VC industry in India, Most of them live in ghost towns with no online presence. While US investors and startup fostering culture is all over the internet. Eventhough, I hate the concept of building a company for good exit (which is like marrying a rich man to get divorced), there are certainly some incentives for US tech companies, where you have other tech companies who might be willing to aquire you (even for petty cash), is a boost for starting a company. The thought of get rich or die in hell is big no starter, and makes people go for safer mediocrity.
3. Resources Probem:
Just as in cofounder, hiring people who have intrisic interest in technology is difficult, Getting many people to work on something that has value in the future (without investment) is extremely difficult in asian culture.
If you have some of these problems, I have a some good news. I've found some work arounds for these problems.
Solutions
1. Co-founder or Investors Problem:
I haven't found a great solution for this problem, But, I have a workaround, If you can't find anybody, put yourself in the places, where somebody might find you. I teach web Design tutorials in youtube (in my mother toungue), which has a small following. When somebody is intersted in tech and have right attitude gets together through that, I might find a great cofounder, or have interest in investing, I might find an investor. If you can't find somebody, make yourself findable. Have a great online presence. Also, look among friends, may be there aren't techies, but you might find a friend with great business sense.
2. Resources Problem:
Find something that gets most done, with minimal effort, I found Ruby On Rails for web application, does exactly this. Don't get lost in scaling problems, Because, by the time you worry about scaling problems, you might have something in hand to showoff and seek investment. Today you can see video tutorials, and put together a website, you can pull this off with just a computer and a few bucks. May be your website will look ugly, just google for google's first version of their website. Take a deep breath and start working on it. Don't start a company yet. You can always work on projects, that can later become companys. This should not be a Problem, not for staring.
3. Oppurtunity Problem:
This is a great One, Having less oppurtunities is actually good, if there are more people ready to buy and invest, people tend to make companies, just for the sake of making them. So, Ask yourself what do you want to build most, even, if you cannot make money or sell it. Build something that gives you satisfaction, and that would make you think "that was worth while". If you can't find something, go on with your studies until you find one.
Hope this helps. Cheers.