The reason is very simple.
People expect more salary when the experience is getting increased.
But in India most of the projects are service related tasks. So, increasing the salary after specific years of technical experience is not feasible
So, they are forced to take management role. Anyway the technical background will help them to manage the technical people more effectively than other managers.
Anyway, if they are not interested to move into the management role they are always having option to start their own company which will help them to get everything ( i-e high income, effective usage of their technical skills, opportunity to improve their technical knowledge and learning management from experience).
But it will take time and needs entrepreneurial spirit.
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