Only 65% of the value, and tbh, the R&D is in China, and most of the data collection that mi does benefits China much more than India. Hard to call it a phone "By India For India."
I mean, I guess that would be a great benefit to the non-Chinese competitors then, Samsung, Google, Apple, etc. I don't see that this would be hugely disruptive to the country.
Xiaomi phones are better and cheaper than Samsung, Google, and certainly Apple equivalents. The Mi 10 Ultra is ~780$ and is just flat out better than a 1200$ phone from Samsung, including the best camera of any phone bar none.
