With regards to estimating the death rate, I would caution against applying American infection fatality rates. On the one hand, India has fewer very old/​overweight people, but you might have already accounted for that.
On the other hand, there is some evidence that severity in Indians and Bangladeshis is substantially lower. Among migrant workers in Singapore, who are mostly from India and Bangladesh, rate of ICU admission was only 0.0002 (20 out of 100 000 cases), which even accounting for the age of the average migrant worker is far lower than what we see in the US/​Europe. I have seen some speculation that endemic coronaviruses in that region provide partial protection. I would look further into this to estimate expected death rates.
With regards to estimating the death rate, I would caution against applying American infection fatality rates. On the one hand, India has fewer very old/​overweight people, but you might have already accounted for that.
On the other hand, there is some evidence that severity in Indians and Bangladeshis is substantially lower. Among migrant workers in Singapore, who are mostly from India and Bangladesh, rate of ICU admission was only 0.0002 (20 out of 100 000 cases), which even accounting for the age of the average migrant worker is far lower than what we see in the US/​Europe. I have seen some speculation that endemic coronaviruses in that region provide partial protection. I would look further into this to estimate expected death rates.