Cayman Islands to Marutius to India was a common route [0].
Also there is a lot of FDI that is brought via the Caymans into India.
Btw, YC lists Caymans as one of the handful of jurisdictions it will support investing in [1]. I dealt with it some time back when I was helping companies choose between YC and Sequoia Surge.
But it's not the UK, right? I mean I cannot incorporate in UK and then say it's a Cayman Islands company for YC purposes (i.e., without incorporating another entity to own the first)