I do run my own company differently.
> I don't believe that it's exploitive
But it is. You aren't paying them based on their capabilities or merit, you're paying them based on what region of the world they were born into, which is completely out of their control. The message your "offer" sends is this, you aren't worth a real developer's salary, because you were born in India. So work for peanuts for me, your privileged first-world master, until you've earned enough to move out of the nation you were born in, and then maybe you can earn a salary equal to your peers.
That is exactly what you're doing, and that is exploitative. I know it's exploitative because it is exactly what American plantation owners did in the slave-owning south 250 years ago. "Work for me for some length of time and you can earn your freedom". It's the same scam. "But these developers are being paid" uh huh, they get $5-$20/hr for what I get $100/hr for. It is dishonest to call that fair.
If you don't believe in equal pay for equal merit then stand behind your opinion, but don't pretend that you're doing these poverty stricken people some kind of favor by paying them fast-food salaries to develop your million dollar applications. If someone spends their life becoming an expert developer they deserve to make expert-developer salaries regardless of what region of the world they call home.
The economic "tool" of outsourcing has always been about exploiting poverty and literally everyone actually knows that.