USDT/INR on Waz seems illiquid to me, last trade 70.00 and it was 5 hours ago.
Didn't get what the other leg of the arbitrage is here. EUR/USDT is pretty close?
USDT/INR is illiquid in the exchange, but you have to look at the P2P which is very liquid. The other leg of the arbitrage is done via FIAT banks.