Strangely, while schemes for attracting overseas talent are enthusiastically administered in the funding agencies, initiatives that promote local talent are invariably run with limited interest and efficiency. Looking outward may be attractive and fashionable. Looking inward may be desirable and essential.
The other issue that should be discussed is why faculty recruitment takes so much time. It is not unlikely that a candidate hears from an IIT one year after the application. Unless processes are sped up, it is not easy to recruit scientists at any level.