I don't think you can reverse geography. The only thing I can think of is No Islam, and even then its not as if the Indians would be shut out given the spice trade.
Europe had a unique combo of Muslim-influenced Atlantic powers in Iberia, tech, rudimentary knowledge of Indies, a total lack of native luxury goods, and a market situation that made these Atlantic powers beholden to the Muslims and Italians.
No other region was both knowledgeable of trade and shut out of it. This material contradiction provided the impetus for maritime colonization.
My one caveat would be that there was mercantile exodus: the Tamils and Chinese could definitely have maritime empires in SEA. But outright colonization, in all its theaters and forms, is another kettle of fish.