One thing you can not do (should not even attempt to do) is to change the market's demand for a service or product. It is what it is.
The best strategy is to adapt.
So I would approach your situation by asking the following question:
What is in demand, needed, frequently used etc by the people (i.e there is market demand for it) AND is in the intersection of my skills, know-how, interests and talents?

You might be a great mechanical engineer, but try taking a broader perspective if there isn't talent for this job. What new skill & know-how area can you more easily master than others, which there is also a good demand for?

Are you open to relocation? If so, suggest Atlantic Immigration Program in Canada.

Hello:
Some good thoughts here already, but I would add to be sure you engage with your professional network. Where are your colleagues--either current coworkers, former coworkers or classmates--working? What kind of opportunities do they know of in the industry?
Also, how many industry verticals are you looking into? Limiting yourself to one or two could be limiting your possibilities.
If you wish to discuss, send me a PM through Clarity for 15 free minutes.
Cheers,
Kerby

Hello
Great answers already but still thought of adding few more points

1. Are you part of any network particularly on the innovation side I am a fellow indian check out national innovation foundation
2. As much as there are problems in India-- it provides greater opportunities as well Which of the industry or products can your mecnanical engineering can be put use into
3. Have you thought of servicing as a product?

4. Lastly how about teaching or handholding new engineers with their projects (last semester projects)
In fact you can startup some thing (like servicing) with these engineering students as your apprentice for all of your servicing projects
I can help you with further ideas and spare a 15 minute talk

Thanks
Consultant Balaji
Chartered Marketer UK