AMR has a report up titled "Indian Service Providers' ERP Practices
Grow Up", Below are some excerpts from the same:

Indian service providers' enterprise applications have grown dramatically
in size, capability, and ability to deliver globally, but integration of business process and Project management expertise into existing functional and technical excellence is still not industrialized across the board.

Findings
# ERP focus shifts to functional skills and higher value projects. Global rollouts, upgrades, and consolidations are growing in importance.
# SAP NetWeaver and Oracle Fusion investments are proportionally higher among Indian service providers. We believe that Indian providers are better equipped to take advantage of the two major ERP vendors' platform pushes than traditional systems integrators because of their heritage with custom application maintenance and development.
# Functional and technical skills get high marks; consulting and project management skills are inconsistent. Functional and technical resources were given good to excellent marks by reference clients across the board. In the few cases where resources were rated average, clients said the situation improved over time. Consulting and project management expertise comes with a premium attached and is not fully industrialized.
#Skills availability and value trump language limitations. Value and skills availability often trump the language issue, particularly for global corporations that use English as their common language.

Source:1

Prashanth Rai