I don't think IBM is a good example, because they've been exactly the kind of low-quality Infosys style body shop that people make jokes about. The only difference is that IBM is mining out their reputation (built up all through the 20th century up until the 1990s) in order to charge inflated prices to clueless enterprise customers. Remember, they were the ones that charged the TSA $1.4 million for a left/right randomizer app. If you've ever used a piece of 21st century IBM software, you probably don't remember the experience fondly.

There are companies doing great work in India (Zoho comes to mind). Why would anyone want to use IBM as the representative of Indian innovation?