It depends what miss you are in...
If your site content is pertains to legal (law firms), Medical, education, Financial, real estate, or blogging niches you would be in a much different (higher) earnings bracket for the same amount of traffic and same number of clicks than someone whose content is related more to news, celebrity gossip, fashion, cooking and recipes or politics ( much lower)...
What it boils down to is buyer intent, and how profitable those clicks can be for the advertiser and therefore how much they are willing to pay for them.
So in case the reason you haven't answered the question of what niche is because you were thinking that those guys were trying to just steal your idea and create competition for you, that's totally not why they were asking LOL it's just the only way to actually answer your question on whether or not that sounds right.
Truth be told, that sounds extremely low but then again I don't deal with Indian traffic very much so I can't say for certain