there is a lot of manufacturing taking place in India by very large brands and some of it for export. Motorcycles and such are being built there for export by brands even as iconic as BMW and Harley Davidson.
So buying up an already established brand is probably cheaper than building the factory (new construction, bribes, etc) to get manufacturing capacity where labor is cheap
This is a good point. If you want to access the Indian market, your problem probably isn't building a plant, or finding competent labour, or buying materials or logistics. It is the licenses and permissions to operate, and the relations to government officials. And if you can purchase an existing outfit that has at least some of the needed licenses and permissions and has some existing government contacts, contracts and agreements, then it is easier to ramp up business.
So buying up an already established brand is probably cheaper than building the factory (new construction, bribes, etc) to get manufacturing capacity where labor is cheap