There are many long-established and serious academic journals in India that deserve greater support from inside India, from institutions, contributors, readers, editors, and translators. Rather than creating an infinity of new online-only journals, it might be better to move existing, historically-important print journals online with or without a print component, and to raise the profile of Indian research inside and outside India by building on the efforts that have already been made.
As a Japan-based researcher, I am not sufficiently familiar with the academic world in India to understand why there is not more support for existing academic publications in your country.
At risk of stealing attention from the SOA blog, I invite to you to comment further on these issues at the Research Co-op India, here:
Best regards, Peter