It's not a conspiracy theory to ask about multiple pricing. This is common, the most familiar example being restricted and unrestricted fares to sell the same airline seats at different prices. In the same way, there can be published and unpublished (consolidator) fares, distinguished by mileage earning and refund rules. Also, as tmeyer says, there can be different fares for west-India-west vs India-west-India; again, that is a way to sell the same seats at different prices.

But information about these variations is not openly available, and hence FT is a good place to ask.