The unemployed CPL holder(s) are not in any way connected to expat Capts hired here. Expat Captains are not the cause of their unemployment. The CPL holders will be filling F/O slots. Until and unless Indian F/O's get the required hours and command, these slots will not open up. That won't happen for another 2-3 years for new joiners. The average expat Capt has probably 10,000 hrs or more. The CPL holder has 500 hrs or less usually. At Spicejet the minimum requirement for command is 2500 hrs. Even if the new joiner flies 1000 hrs/year it will take 2 year plus as a minimum. Accelerated command is being offered to Indian ATPL holders who wish to join Spicejet. Most of these guys have previous jet experience either from the military, other airline or corporate. After about 500 hrs with the company (non NG Capts) they are given a suitability check and then command training.
If you are an unemployed CPL try to get your hours by instructing, charter, etc etc if you can while overseas. Make yourself competitive. If you can afford to get a type rating etc do it. This cycle will not last forever. If you are committed to a career in aviation then make the sacrifice. You are fortunate that the Indian Govt is protective in that you will be given preferential hiring once things open up. Your competition will only be from other Indian CPL holders. Stand out from the crowd, get noticed, improve your qualifications, and you will be triumphant in the end.