Why US founders retain more equity that Indian Founders after several fundraise?

Just did a lot of research. also got some inputs from chatGPT.
Pattern & Difference

Valuation Gap: US startups raise at much higher valuations even early on, leading to smaller dilution per round. In India, lower valuations mean larger early dilution.
Funding Instruments: US VCs often use SAFEs/convertible notes to delay dilution until valuations rise; Indian VCs mostly do straight equity deals upfront.
Secondary Sales: US founders can sell a small portion of their shares early for liquidity; Indian founders rarely get this option.
Equity Top-ups: US boards may restore founder equity after heavy dilution to keep them motivated; in India, this is almost unheard of.
Investor Competition: Fierce competition in the US drives founder-friendly terms; limited VC pool in India favors investor leverage.

Why Indian VCs Are Short-sighted

Control Over Alignment: Focus on holding larger stakes themselves rather than ensuring the founder has enough skin in the game long-term.
Exit Timelines: Push for quicker exits instead of building enduring, IPO-scale businesses.
Low Risk Appetite: Hesitant to fund at high valuations pre-revenue, even if the market potential is huge.
No Founder Incentive Focus: Rarely use equity top-ups or secondaries, leading to demotivated founders with minimal ownership.
Investor-first Term Sheets: Prioritize protective clauses and board control over founder autonomy and growth potential.