The new steam currencies update

Indian Rupee, like many other currencies, has been added to the store, so as I reside in India, I've had a quick look at the prices, and they're...absurd, to say the least. Games like Call of Duty: Black Ops III and Fallout 4, which would have a 60$ price-tag in the United States, are priced as 3999/- and 4299/- respectively, and many other 60$ games around cost 1179/- (full price)

Is it the publishers who're setting the price, or has Steam deviated from the standard worldwide prices for each region?