Indian companies will never become mature and capable unless they have real competition. They "NEED" competition to become better. I will give you an example so that the situation becomes clearer:
I am a cyclist and like many other serious cyclists, I am forced to buy imported cycles because the ones being produced by the Indian companies are really really bad. They use poor quality and heavy frames and the worst and cheapest possible groupsets from big companies like shimano (so that they can advertise it). They don't bother with the sizing either. All good bicycles come in multiple sizes according to your height and inseam. It is like going to buy clothes and finding just one size. When riding for hours, bicycle fit is crucial. A typical road race goes on for hours. But Indian companies produce just one size.
Once cyclists started importing cycles from abroad these companies like Hero, BSA, etc used their political clout in Punjab to get the duties raised on bicycles to astronomical levels in 2012. They didn't improve themselves by even one percent. They are still produce garbage. They will not improve till they are forced to do so.