This article in the Economic Times debates the difference between death rate spikes observed in most developed countries and the death rate spike that failed to happen in India.
I think the article misses the elephant in the room, which is the trio of communicable disease rates, vehicular accident rates, and workplace accidents in India vs. the developed world.
India has ten times the rate of communicable diseases as the developed world, and the lockdown has had a massive effect on communicable disease rates. The diseases, whether water, air, or foodborne, are way lower than what is usual for this time of year. And so are the deaths caused by them.
Besides, you have a massive reduction in death due to accidents – vehicles and also workplace accidents. These are also much higher in India. Both, as a percentage of vehicles on the road and amongst workers in the unorganized sector.
A little investigation into these numbers should clear up the mystery.