The Trouble with India's IT strategy

Sramana Mitra has given very good reasons on what is wrong with India's IT strategy. Outsourcing as a strategy will fail eventually as India's salary rise makes it more productive for IT companies to go elsewhere (Eastern Europe etc etc). What is lacking is really a strategy to create products - I haven't seen this by any of our IT giants - TCS, WIPRO, Infosys etc. Zoho (featured in the article above seems to have got something right at least.