The direct ranking benefit of speed is modest and Google has said as much. The conversion benefit is not modest, and in India it is often the larger commercial issue, a substantial share of traffic arrives on mid-range devices over connections that make every unnecessary kilobyte expensive. On paid traffic you have already paid for each of those visitors.
The speed work we inherit was almost always done against the lab score. A caching plugin was installed, the number went green, and the field data never moved. We work the other way round: find what real users are actually experiencing, identify the specific cause, and fix that.