Look, I am a developer from India. An above average developer by Indian Standards, but the problem is most Indian clients are also below an average client. They dont know what exactly they want. This ends up increasing number of iterations, which is ok. But then I have never experienced a client appreciating these iterations.
There are significant cultural differences between how business is done in the West and in India. I talked about this in another comment.
I don't want to give you advice one way or another, because I'm not Indian, so anything I would say is bullshit. Talk to some developers in India who aren't just above average, but are in fact, stellar. Some of them are probably making good money. Ask them what they do, they'll be able to give you the best advice for the Indian market.
