I love this thing, why would it cost $40,000+ aka 35 lac rupees for such a thing ? it doesnt have many things that a car has, nothing, no dash, no car switches, nothing, only 2 seats and a special fiber-plastic body, this thing has motorbike transmission, motorbike switches, Kawasaki sports bike's engine.
The same engine in good condition can be imported from dubai and wont cost over 50,000rupees, frame body and suspension, thick tyres etc, 2 sports seats etc 3 - 4 lac rupees, can be built for under 5 lac rupees, the only difference would be that it would weigh a 50 - 100 kg more, little slower (not very much) and wont be as reliable as the original thing ofcourse, this can be done here, not a big thing, just need some heart and hard work and cash, will have to study its design, power delivery, transmission, a replica can be built, here is a video of the real thing :
YouTube - T-Rex Vehicle