Just some thoughts:
India doesn't have a full fledged hifi industry. Let us face it, hifi is a small scale industry here. If you exclude manufacturers like Ahuja Radios rest are all small scale, where majority of work is done by hand rather than machines. These can be better termed as "assemblers" rather than manufacturers. None of the companies in India that I know of have a factory of their own to produce transducers. Most of them import from well known international sellers and assemble them here. At such small scale, when work is being done by hand, maintaining a great finish is difficult.
That said, finish is not poor. Until you campare it to a certain B&W Nautilus or a Usher or any such manufacturer.
If Indian manufacturers can sell like international brands (a certain Wharfedale, Klipsch, Jamo produces over 50000 units per year, because they sell that much) I do not see why they will not be able to optimize their processes and bring production costs down etc. resulting in a overall much better industry.