⭐ Merited by TheUltraElite (1)
India is IT powerhouse but all shareholders and big guys don't want to ditch dhandobaji and then comes out in open and says leave the AI stuff to big guys in silicon valley. Profit loss etc are depend on your product, everything will come if your product is competitive and good, right now this is missing.
We are doing good on service based things but we lack products as you said and we need to encourage the guys as early as possible to stay here and create anything so the government will be helpful to create a career here but now everyone just want to get a job even if the salary is very basic because they know with 1 or 2 year expereince they will find a better job and almost settle in some other part of the world except India, then how can we expect India to grow and who to blame here 
Maybe gov should introduce bond systems (1-5 years mandatory service) for IITs as well, similar to MBBS (gov). Atleast they should try it once so that they can retain talent for some time, these are creamy layer of India and this policy can do wonder for country if it sticks.