What is it with India and economics? I have personally known many Indian economists, I see a lot of books written in Hindi about finance and other economic topics, and apparently many studies are conducted in India. There is something going on here, maybe a trend that will be remarked on a century from now.
India is quite a bunch of people :) If the academic output per capita is the same worldwide, then India alone would contribute 17% of the worldwide output of financial/economic publications.
I guess there is a bias that keeps perpetuating itself. I've made the same experience with Italians. On the other hand, here in Germany economics seem to be quite niche (and terrible), while our CS, Math and Engineering research is world-class.