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Due to the protectionist stance of the Indian govt, I doubt brick and mortar foreign firm offices are likely to happen anytime soon. That is a shame - our Indian firms do some excellent work - but much can be said about how foreign firms leverage their internal resources, use legal project managers, and have a generally less hierarchical culture.
There needs to be some middle ground found between protecting the firms (because, yes, associate / partner poaching would be easier with the higher salaries that can be offered), and allowing a higher degree of competition in the Indian market which forces Indian firms to improve on the aspects set out above.
I would love to be able to work from a theoretical Indian office of my firm, but that will likely take eons to happen.