Here in India, titles are so inflated it's not even funny. Anyone with 5+ years of experience is considered "Senior". After Senior, you go to "Tech Lead" meaning you're aiming for Manager, or directly to "Principal Engineer". To further differentiate, I believe some places have Principal Engineer 2 and beyond. Because India does leetcode on steroids, achieving these levels is mostly about grinding leetcode and having the adequate years of experience for the position.
I guess this is what happens in most industries. A hierarchy is set by management and people jump through hoops and make sure they're "on track" in their career.