My friend doing B2B SaaS startups in India is very negative on the market since buyers are so penny pinching - sounds like the way is to build there but sell elsewhere.
I think the Indian business mindset still hasn't adapted to Western-style capitalism (derisk your personal wealth, throw a lot of money, go big or go bust) and entrepreneurs spend very cautiously which ultimately leads to failed outcomes. You can even see this in the way that big public corporations behave.