https://www.youtube.com/watch?v=CV8fdFoZ6JM
At 13m, ISPAI claims that the problem is because all content is hosted outside India. And the problems with speeds are due to latency not limits. Once the content comes to local servers, low latency would solve everything. You would not need more than 256kbp or whatever. Magically.
Of course they are making it very lucrative for everyone to host their content in India right? Totally awesome.