In Indian domestic cricket, the top pace bowlers are only a little over medium-pace, and do a very good job. India is stereotyped as a tough place for pace bowlers, yet you find several medium-pacers (and a little faster) maintain averages a little over 20. On the other hand, some rookie pacers struggle to even finish a domestic season, and don't offer anything except for the promise of pace- many can't bat, some can't even field.
You can look at one team to spot the difference. Gagandeep Singh has an average under 20. He's maintained this average for more than five seasons. He's maintained this average in India, not in England or New Zealand. He can move the ball quite well when it's new, and gets a good shape. He keeps a line and length for quite some time. He's also a very effective fielder, though not much of a batsman. But he misses out, for that obvious reason- lack of pace. On the other hand, you have VRV Singh, who's been hyped as a pace prospect. He isn't very fast, and though he has a tendency to brush the stumps in his run-up, he sprays the ball all around, oversteps and gets the ball at an easy pace to hit to the boundary. Worse, he's no good with the bat, can't field and has missed several matches due to injury.
There's no point picking someone just because he can apparently bowl fast. Pick someone who'll get a job done. We don't know if Atul Sharma fits the bill, but except for pace, he may end up picking up a lot less wickets than Joginder Sharma, who's a full-fledged batsman for his team, and we know where he is now.