As far as I'm concerned, the Indians have every right to make stories about British imperial oppression, and Tolkien had every right to make a story evoking the Fall of Constantinople and the Siege of Vienna. With orcs.
I agree.
But problems arise when anyone- regardless of ethnicity or status- starts to rely on discredited stereotypes to tell their stories. Especially if the stories are not period pieces. It’s one thing for a character in a period story to use racial stereotypes of his place and time, it’s another to import them into a completely fictionalized setting.