Karthik, It is nothing to do with whether Indian companies has a choice of being in product development or remain in services. It is to do with their mentality. None of the biggies are ready to take risk. Moreover they dont make any investments on employee talent development towards product arena. To my knowledge Wipro has investments done on R&D, this company started out as a product company and to match with the peers, they also fell in trap.
Your citation on Indian people who own product companies may not be applicable here. Those fellas are either having a green card or USCZ and who have planned to get settled here. We cant blame them as whatever they have brought up is due to the extensive education and knowledge they have got in through higher studies in the US.
My honest view on the way they run business is not that great.Software services is a knowledge industry, till the time the consumers are not realizing whether they are getting the value for what they pay, these guys will be in the biz. After all, no mainstream work is getting off shored.
I really have a great faith in Indian talent. No questions. But not on the india based service companies.
I have more to say as an insider. But i am running out of allowable characters for a post.
