One might argue that this is fast even for Countries with better broadband. Okay, so here is a comparison of
Current Average speeds in India vs Rest Of World
Two points to notice
1) The Speed gap of India vs Rest of the world is HUUUUGE! World Average download speed is about 10mbps vs India Speed of 1.5mbps.
2) If you notice India's graphs; it has been mostly linear indicating that there has little increase in broadband speeds over period of time(Sad :|). While World's Average Download speeds are increasing Year after Year, shown in the graph.
Clearly, India has lot of catch up be be in order to match world standards but sadly our Govt has is not doing anything