Indian IT should stop importing innovation from the west - Narayana Murthy

While speaking at Indrprastha Institute of Information Technology, Delhi; Infosys co-found Narayana Murthy said that Indian IT should stop importing innovation from the West. Murthy said that despite producing large number of software professionals, India hasn't innovated much in the software space. Except for the global delivery model and 24-hour productive day all the other innovations (design, productivity, security, quality etc.) have come from the west.

My take: While what Murthy says is correct, I've often wondered why companies like Infosys aren't leading my action. I mean, from what people speak - a lot of software engineers are sitting "on bench" in the big companies including 'Infosys'. I wonder why can't infosys create a force of talented engineers formed from its own employees and let them create something innovative that will be used by the end users. I mean, why didn't we see companies like Infosys, Wipro, TCS, Cognizant create a web browser or a mobile operating system like Android or a VoiP software like Skype?

Are these companies and their employees (and any Indian software engineer) lacking the ideas or the drive or the resources to create something like that?

What's your take on this?