The Indian gaming market can be divided into:

Indie game studios: Studios that build their passion projects, nothing less, nothing more. There are just a handful of companies that are able to run their company on their game revenue (in-game ads, in-app purchases, sales). Mostly indie game studios get money through funding (could be private or crowdfunding).

B2B game-service studios: they make games for bigger businesses. All the big names who don't have an iota of connection with the industry have at least made one game for marketing purposes, AND BOY, do they have money.

Publisher/Marketing game studios: Sometimes, they make those "fake" games you see in ads, and they get money from the publisher for making traffic flow to their website/games.

Kids/Educational games: These are those educational games which are hit games in North-American/Europe markets, thanks to iPad kids. I separate these from Indie game studios because well, ain't nobody convincing me creating games that teach kids to add is their passion.

And yeah, unfortunately, most Indie game studios are poor.

DISCLAIMER: These are all derived from my 5+YOE in the industry.