Disney reports that Domestic (US) subscriptions bring in an average of $6.10 /month. https://thewaltdisneycompany.com/app/uploads/2022/11/q4-fy22... (page 6).
Firstly, the median salary of workers in India is much lower than salaries you will find in the west. $8,000 AUD is more than the median salary.
Second, cricket is big. Disney+ had IPL rights for a long time, but lost them to another streamer. (Disney still owns the Pay TV rights).
Thirdly, many plans from mobile phone providers include Disney+
A retail Disney+ Hotstar subscription goes for the same price as a monthly phone subscription that includes 4GB of data a day.
Competitors in India have plans that are at similar prices to Disney+. It's hard for Disney to charge more for the product there.
It's just bad news for Disney+ profitability even if there's nothing Disney can do about that.