It sucks India does not have a hardware ecosystem similar to Shenzhen. There is no capital available for independent innovators who want to build hardware products. There are few skilled engineers who can develop the tooling required to make parts like screws, fittings etc. at a scale and price that makes sense for the market. Import duties to encourage import substitution have only made parts more expensive and made logistics more complex.

I think the attention given to IT services and software companies and startups has left the hardware industry without talent or capital. If you can make 5-10x as a software engineer than a tooling engineer, it makes zero sense to study mechanical engineering.