Its not the managers who made the decision. Its the shareholders, ultimately its capitalism that made this decision.

Shareholders, individually or collectively, don't make such decisions... but they later collectively judge those who did. (Fairly or unfairly)

This is a blessing in disguise. A majority of the Indian IT workers were focused on working for outsourcing companies. Recently, I have seen the startup scene gaining momentum in India. This will stop India's brain drain as well bring in more revenues to the country directly.