It's simply because of supply and demand, speculation.

India has a thin crypto market, globally around 1.2% compared to the US 23% or more, and the demand is purely speculative so be it buying through an exchange (broker) or P2P, the premium isn't going anywhere soon.  Buyers are willing to pay whatever the sellers are asking and now you also have to put the banking restrictions into the mix. Higher demand, limited options, definitely premium. Yeah, things might change as adoption increases (more supply) and more options (regulations).

Edit: Then I guess these developers and hunters are bringing a lot of liquidity to the Indian crypto market.