I lucked out and got grandfathered in to Spectra's (up to) 1 gbps plan in Delhi, so I'm sitting pretty. I'm just waiting for the day they try and force me to switch to a new plan (they've eliminated all true unlimited plans).
I think the main problem currently is that apart from Airtel (who have pre-existing transit agreements) and Jio (who are throwing money like nobody's business because they don't have to pay back loans and got spectrum in a scam) most of the ISPs don't have solid transit agreements with global ISPs. Most people are using internet for streaming services, which bypass transit agreements because Netflix/Google/etc. have tie-ups with most ISPs and have their content boxes in ISP datacentres, so whatever speed you pay for you'll get a good experience as long as the quality of the line to you is not bad.
E.g. my so-called 1Gbps Spectra connection can barely hold a hundred megs of bandwidth to a US server, whereas I can get the same or better on an ACT 100Mbps connection.