Consumer's limited spending power should not be discounted. I worked for an Indian startup and it was clear that India gives you the user numbers to show growth

Consumer's limited spending power should not be discounted. I worked for an Indian startup and it was clear that India gives you the user numbers to show growth but you are never going to able to monetize it because you can't squeeze blood from a stone. The typical strategy is use India to build and test products, and market to first or second world countries. The _only_ startups that could turn a profit were the fantasy gaming and gambling ones. Ultra predatory business practices and powered by addiction and the fact that UPI enables zero transaction costs on small amounts so they can make a profit with individual sales as low as a few cents.