Ok, here's the thing. Indian developers are not overrated. The developers that you are trying to hire might be overrated. Very good developers in India mostly work for big product companies or startups. Most good developers do not freelance. And coming to technology consulting companies like TCS, Infosys etc.., hire a lot of new college grads at cheap salaries who have no clue about the work and make them slog.
So, if you want good freelance developers it might be difficult to find good one in India. But, if you are a startup that gained some traction in the US or elsewhere and want to start an office in India, you'll find good developers if you pay well.
So, if you want good freelance developers it might be difficult to find good one in India. But, if you are a startup that gained some traction in the US or elsewhere and want to start an office in India, you'll find good developers if you pay well.