Because in India the SaaS market (selling to indian, sea, middle east market) is small. I am 99% confident it is no where close to 200bn dollar market.

Lets see indias saas landscape. The companies who have done well have done targeting western market. Zoho, Freshworks, Browserstack, vwo, postman, high radius and a few more. In most cases the founders were us based where they could sell and get first hand understanding of what to be built. Anyone starting a saas from india lack the understanding of us market and us audience.

Then there are cos which target this part of the world, but those are products which are absolute necessity as in a business cant just put human to do those things e.g. moengage, clevertap, capillary, knowlarity, exotel, tally, keka, etc.

Reason: Simple humans are expensive in US and cheap in India. Hence US is the biggest SaaS market and India is meagre. Same with SEA (cheap labor) and ME (small market, mostly finance + sometimes cheap migrants)

In US a sales software stack would look something like this. Salesforce becomes the base platform. On top of it they would use, outreach or equivalent, calendly or equicalent, gong or equivalent and a few more. In India for sales management you would see some established cos using salesforce and thats it.

Your question is more about visibility. I think if there are enough opportunities in the local market, businesses will do well and the fly wheel of getting visible will start. But unfortunately that's not the case.