You can't compare US pricing with Indian. There's 28% GST on Indian price, plus import duty costs on components even if they do manufacture in India (5%). So even in the best-case scenario, Sony can only price it at 1.33 lakhs.
However, the biggest reason we Indians will not get goods at comparable prices as US for the foreseeable future is because of the purchasing power + consumerism there. Sony probably moves 100x the volume of these TVs in US than in India (I'm talking high-end ones). At those kinds of volumes, your inventory and other logistics costs get very low(per unit) and you can make comparable margins even with lower pricing, which will increase volume further.
On top of all of that, we have a bad nexus of middlemen in India, who all eat their fat margins. Most such goods are sold offline which due to low volumes have insane amounts of markups. There's the cost of running the showroom, the salesman's salaries, the extra margin for fooling the customer, the distributor's margin, and so on... Look at any successful businessman in India, there's a good chance he'll be a middleman and not a producer of any good.
The only way things get better, say 5 years down the line is for folks to start buying on online platforms, and Indian per capita income to increase rapidly. And we're actually doing pretty bad on that front thanks to the kind of divisive and vote bank politics is played here. India had 1.5x the per capita income of Bangladesh in 2014, and this year they're surpassing us.