Not going to argue whether the sign is real or not. But, I will say there are talented craftsman in India that could easily produce that sign.

An example of readily available talent: over there if you crash the fender of your car (which happens all the time because they drive crazy) rather than buy a new fender, you have the old one fixed. Labor is cheaper than the part itself. A skilled metalworker bangs out the dents, filler to get it smooth, and paints it. Looks new. Everywhere there are little shops that weld, fab, and paint. Easy to get a sign like this made there, even from heavy steel.

Over the past 10 years the metal forming tool and die trade has exploded over there. There's a reason Tata Motors (India) bought Jaguar and Land Rover. Many "engineering" students and skilled craftsman looking for work for cheap labor rates.

With more and more equipment (cnc, presses, etc) going there, you will see more difficult signs reproduced. Deep drawn text, fancy formed perimeters, complex colors in porcelain, all will be produced with time. They just need to find a market and draw up what the sign should look like. Surf the web for that rare sign, find dimensions, search several photos to get exact colors and text, make the sign, age and distress it to show it's old, find an American seller to move the products here.

Ever wonder why you can buy just about any high $ prescription drug there for about 10% the cost here? They are the capital of counterfeit drugs. Also, any book you can imagine here is printed there for pennies on the dollar and then shipped around the world. Harry Potter for example, thousands of copies made there ilegally and shipped worldwide. They would be just as willing to counterfeit signs if it was profitable.

I've traveled in India. I work in metalforming (automotive, ag, hvy truck, appliance). To have signs made there and shipped here would be a profitable venture, but very destructive to our hobby and to existing collections. IMO, best way to keep it to a minimum is to be careful when sharing high resolution straight on images of signs, specific dimensions, or other info that could be used to create quality counterfeits. Without that info, or without an original sign to copy, they don't have a good reference to use.