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Valve does a relatively good job with regional pricing. But after last year's readjustments price in India is at the very least 50% more expensive than it used to be.
No, our economy didn't improve to warrant this change, it's in fact tabled heavily, and disposable income has also shrunk but a lot. It'll get a lot worse too, as our policies become worse and worse.
There are other countries in similar situations where the prices were adjusted to be cheaper, but not in India, sadly.
So while Valve usually does a good job, they didn't this time. We can't expect individual developers to manually keep track of global economies and set their own prices, so it's very understandable for then to just say they trust Valve for this. I just hope more of them realize that Valve is not perfect in how they go about it.
This is sometimes the case with god forsaken countries like Venezuela, we've had the same prices as US since forever and we're the worst economy in the whole continent and rank among the top 10 in the world, so yeah sometimes is just bad luck or maybe even due to international policies that regular costumers are not aware of.