The biggest source of wage inflation in the last few years has been domestic startups, all fueled by VC money from low interest rate regimes (Softbank, Tiger, Sequoia being the biggest culprits).

Those tech bodyshop jobs that cater to the US market still pay a small fraction of what a startup that targets the domestic Indian market, such as Cred, pays.

The point stands: digital work arbitrage has been around for three decades and didn't really create a massive income disparity. The bulk of recent income disparity has come through absurd tech startup valuations, all made possible because borrowing money was dirt, dirt cheap.