Indian IT: Discriminating against Talent?

The large IT firms in India, in many ways, discriminate against talent. Because of the fact that the dominant business models of almost all large Indian IT firms are predicated on labor arbitrage, what most companies are looking for is not talent, but instead for inexpensive workers who know just enough and can do just enough to get the job done.
In this paradigm, programmers are not necessarily measured for skills but for how many brand name companies they have worked for. They are measured by what their last pay was. Being in a creative and innovative job that pays four lakhs per year is far less significant than earning eight lakhs a year administering MS-SQL boxes. They are measured by whether they have worked on a current buzzword even it is only for a few months. Working on a possibly older technology for a long time and gaining deep insights into the nature of current technology does not really count for much. Actually no one really needs those insights. Just code that cross tab report before the customer side project manager logs in tomorrow.