Software engineering is a relatively nascent field. While India does produce a lot of software engineers, it will take some time before the expertise in software development that is required to run a successful business is prevalant enough in India to nurture independent companies and allow them to grow big. There are already a few successful Indian startups though e.g. Zomato, Flipkart.

Anecdotally, there is much activity in the startup sector in India and I am willing to bet it won't be long before we start seeing more success stories.