An antique white finish is a two-stage process pretending to be one. The white goes on first and is allowed to cure. Then a thin tinted glaze is brushed over the whole carved surface and immediately wiped back off the raised areas, so it stays only in the hollows - exactly where dust and wax would have settled on a piece that had genuinely been in a house for a century.
The wiping is the skill. Take too much off and the carving loses its definition; leave too much and the piece looks dirty rather than aged. It also has to be done at speed, before the glaze sets, across an entire carved headboard - which is why it is the stage of finishing that our master Indian artisans hand to their most experienced people.
The point of it is not to fake age. It is that deep carving needs shadow to be read, and a pure white surface under bright Indian daylight gives very little. The glaze puts the shadow back in, so the work someone spent weeks doing is actually visible.