There are class connotations. Jugaad is something forced onto people by poverty. It's hallmark is messy, janky and easily breakable setups that have been cobbled together by both necessity and lack of resources. Wealthier Indians would not turn to a "jugaad" solution for their needs.
While the principles in the post (humility, openness, frugality) jive well with the Agile philosphy, I'm not so sure that "jugaad" is the idea I'd want my software to embody.