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In T20 leagues like BBL, BPL and like, many players from other countries participate whereas Indian players do not. So, what is the reasoning behind this?

Players like Murali Kartik have played in County cricket.

Speculating that the players earn enough and don't need to go anywhere else but this might not be the sole reason.

  • Any individual player may have several reasons or none, and nobody can provide a reason for the majority of players that isn't just a speculation. – Nij Mar 27 '18 at 8:36
  • @Nij It seems incredibly unlikely that every single Indian player ever would have decided not to play in a single foreign T20 tournament, so it's much more likely there is a reason for this. See my answer. – Philip Kendall Mar 27 '18 at 10:52
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This is a decision by the BCCI. For any player anywhere in the world to play in a foreign tournament, they need a No Objection Certificate (NOC) from their home board, and the BCCI have refused all NOC applications for Indian players to play in foreign T20 tournaments. Cricinfo wrote a good article on this in 2012 and I believe the gist of the details there remain the same today.

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BCCI does not want players to play in other leagues, they do not have time for other leagues as well. Beside there is permission required from BCCI for all domestic and international players. They can even ban players who play conflicting leagues for BCCI. Remember ICL(Indian Cricket League)

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    There's a big difference between the ICL (a directly competing league deliberately outside the authority of the BCCI / ICC) and say the Big Bash League (an authorised T20 league being run by Cricket Australia, another ICC member). Any cricketer that played in the ICL was going to be banned from any ICC cricket, not just Indian ones. – Philip Kendall Mar 28 '18 at 10:48
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Quoting First Post:

The BCCI imposes this restriction not just on its international players but also on domestic players, apparently in a bid to protecting their domestic tournaments, but their real intention is to safeguard the novelty and hence revenue of its cash cow, the IPL. BCCI thinks if Indian audience gets to see their cricketers play in other tournaments, the interest in IPL will diminish. Adopting such a protectionist model in the age of free markets is terribly myopic. If a cricket league prospers anywhere in the world, BCCI prospers from it. As home to legions of fans, cricket’s win will always be India’s win. BCCI has in the past claimed that it’s a nonprofit organization. As custodians of Indian cricket, it’s incumbent on them to give their fans a chance to see their favorite cricketers play in leagues other than the IPL.

But for a change, the Board of Control for Cricket in India (BCCI) has finally thrown open the doors for India’s women cricketers to participate in international leagues across the world. The move was announced on the 1st of June during a meeting of the Women’s Cricket Committee in Mumbai.

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As Philip Kendall Said in his answer, BCCI have refused all NOC applications for Indian players to play in foreign T20 tournaments Source. But many articles speculate few other reasons for this like,

  1. Board of Control for Cricket in India (BCCI) wants their players to feature in domestic competitions which take place at the same time in December and January.

  2. BCCI is also keen to give their senior players a breather, as the cricketers play a number of international matches in a calendar year.

  3. BCCI thinks if Indian audience gets to see their cricketers play in other tournaments, the interest in IPL will diminish.

  4. Board officials say that they don't want a situation like West Indies to emerge in India where most of their top cricketers are busy playing T20 cricket by ignoring the national team.

  5. BCCI thinks that if players are allowed to play in foreign leagues, it will dilute the IPL's brand (i.e; to protect IPL's revenue).


References:

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I think Indian players do not play in other countries leagues like BBL, BigBash, NatWest T20 Blast, PSL etc. because of several reasons:

  1. BCCI does not allow them.
  2. Busy Schedule due to International matches.
  3. Some players like VK, Dhoni have a very high status. They prefer not to play in such a small league.

But in some conditions, Indian players prefer foreign league. For example, VK recently confirmed that he would play in a county match in England because he didn't play well in past India tour of England.

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