Starting a company in India is hellish - what the h1b backlog really does is push migration to UK, Australia, UAE, Canada etc. Emigration from India is just going to go up over time - higher education in India in aggregate is awful too (IITs represent <0.01% of students), demand for studying abroad is exploding.
https://monitor.icef.com/2022/08/forecast-projects-1-8-milli...