Indians aren't the cheap labor like in the 20th century. People in the Gulf hired Indians due to:
1. Goodwill earned by India. Squandered by Modi and gang.
2. Cheap labor.
Unlike people in the West who demand higher salaries for getting work done, Indians did and still do the same work for much less.
This was why many Indians got jobs starting in the 20th century. Most are from Kerala.
Educated Indians could get by with far less so the Arabs gave them more money. You can compare what Indians earn in the Middle East and what they earn in the West. Comparable but there are other aspects.
Even rent wasn't unmanageable.
Compare this to the Gulf.
People from the Philippines, the Ukraine, Romania, Hungary, etc., will do a great job for lesser money than Indians. If Gulf authorities can't handle Indians, they can simply refer to these nations for the same work.
Oh, and did I forget to tell you Middle Easterners are getting educated in large numbers and taking charge of their own economies? More bad news for India!
Oil prices. They don't look good at least in the short run. But the renewable energy gravy train is running out of time (see Australia) so oil prices might bounce back.... unless the world discovers the benefits of nuclear energy like France.
Take what you will out of this.