Exactly.
The company I work for was one of the first in India some 20+ years ago. Back then it was 10 cents on the dollar. But then the Indians got clever with their bouncing from one company to another and creating fake certificates. From the amount of re-work we have to do in the states it never paid for itself.
Now that Indians cost about 50 cents on the dollar, we have moved to the Philippines were they are about 20 cents to the dollar.
The only benefit I see is that their accent is understandable.
Ding! Ding! Ding! We have a winner!