From what I was told by a Lion Air captain involved in recruitment, was that foreigners can be upgraded to Captains but need to use their home license and have this validated by the DGCA. It needs to be an ATPL (obviously) and have the type rating endorsed on the license. Reason for this is that the DGCA no longer issues licenses to foreigners including new ATPLs. I've posted a link to these DGCA regulations here on PPrune (look for them in post history).