Excellent analysis, sir. Across that region there is a long tradition of fabricating functional copies of modern arms using nothing but the simplest of hand tools. The choice of horn as material for the stocks also is suggestive of that part of the world being this revolver's birthplace.

However, I cannot exclude the possibility of this being of Chinese origin. They certainly also copied many western firearms (and some Japanese ones, too), and Smith & Wesson revolvers were not uncommon in that country in the first half of the last century.

Incidentally, the overall workmanship is not bad at all. There're really no rough edges, the action is functional and actually S&W smooth. It's not crudely made, aside from the individually stamped, nonsensical characters I've noted. It's even serial numbered, with the four digits on the butt being the same as the four applied to the rear face of the cylinder. So it's matching, go figure.