I work at at Indian IT services company. And no, the development environments are sub par. Slower machines, no freedom of software choice. Tight budget restrictions on development tools. No innovation in automating tasks. It's not bad, but not as good as the companies you have mentioned.

There are no free breakfasts or lunches or anything. If you come over the weekend to work, they don't switch on the AC for cost cutting, even in peak summers when temperature here reaches around 100 F.

Some companies have not given any hike in two years. There's one company I especially hate. They have enforced stupid school like rules. If you don't complete 9 hours in office, and that too on the floor and logged on to machine, then your leave is deducted. If your leaves finish, they cut your pay. They track how much time you have spent away from your machine. This makes employees take measures like using something to keep their mouse moving etc. They enforce wearing business formals every Monday and Tuesday, without reason, just to show the strictness. If you don't wear a tie, you are sent home. There are many more examples.