I really don't think it is. The replies on that twitter thread I posted there, from a couple of days ago clearly indicates (or at least implies) that the people leaving the platform are most likely the people unhappy with Twitter India's right wing bias.
https://news.ycombinator.com/item?id=21482041
Also, there's the fact that Twitter was summoned by a Parliamentary panel when someone accused them of curbing non-left leaning voices.
https://www.indiatoday.in/india/story/twitter-india-summoned...