There are plenty of physical goods that are regionally priced, including food, gasoline, etc, and shipping expenses add to the cost of goods. There are also import taxes, restrictions on certain goods, etc, including imports of cars. Housing costs, property taxes, etc, are all very regionally dependent.
Electricity, natural gas, etc, coming from the same source going through the same lines/pipes, to different customers/regions can have different prices.

Plenty of goods are subsidized for developing countries, including agricultural equipment, medicine, etc.

The goods that you can buy from India and China may be cheaper, but they are not identical (they do not necessarily match the same quality standards, and those countries don't have the same labour laws or environmental standards as other options, etc).
Of course there are no restriction on buying things in other countries if you go there yourself, but (unlike digital goods) you are paying to go there, paying to get back, and there are import regulations and duty/taxes upon returning to your own country.


Basically, your argument is that people in rich countries shouldn't have to pay slightly more than those in poor countries, that people in poor countries should have to pay the same as those in rich countries, even if that puts games completely out reach. Comparing that to not being able to buy a Ferrari is silly; in that analogy, you can easily buy a car, you just want a cheaper price, even if that would mean many people in poor countries can't afford cars.

The budget of an independent developer's next game comes from the profits of the previous, and the largest expense is manpower. Saying you can arbitrarily cut the price in half because they must be making a profit is rather short sighted. If you want to decide a company is making too much profit, wait until they start doing stupid things with it, rather than investing it in future games.

Just because something can be sold at a certain price in a region doesn't mean that price would be sufficient to cover the development costs. Before Steam had regional pricing Russia had a large piracy problem (which is an issue unique to digital goods); by making prices affordable and buying games easier than stealing, Russia is now one of the largest markets for Steam.
Virtually nobody in India steals European tea bags if they can not afford them.