The is nothing wrong with seemingly low time pilots getting into the seat of jets IF the training systems, protocols and culture exists within the airline. Singapore Airlines and CX have done it well and continue to do so. Pilots not making the grade are scrubbed, as it should be.
In India, this is definitely NOT the case. Book smart, yes, but from my experience with their national carrier the flying skils are just not there.
Whatever the DGCA proposes now or in the future will only ever be a smoke screen for the real truth. Exemptions to every rule are made due "operation needs" or plain old fashioned corruption and bribery, which again is more than ripe and systemic to getting anything done in that country.
Expats? No, not the answer. They / we are not wanted and treated with distain at every turn. Most of those I know still there are looking to get out purely due to the way things are done, how they are treated and the pure ignorance to any form of professional standards.
Until some serious cultural change in Indian airlines occurs, there lies more CAT ahead....