Pros
Scale of the company provides an ability to be at the forefront of services given the large number of industries and countries IBM is in. IBM India is also a woman-friendly organization. IBM India provides a fairly good work-life balance which allows enough time to pursue interests outside of work. There is a large amount of knowledge within the system which can be very good for people who are willing to invest time in mining the knowledge artifacts. The company also provides enough opportunity to work with a large number of customers some of them the best names in the industry which is an experience by itself.
Cons
IBM India has been growing at a very fast pace and now is a very large company with more than 70000 employees. This means you tend to feel like a cog in a giant machine and employees very rarely get to be truly transformational in nature. Compensation is also much lower than the market and the hikes are getting poorer with every passing year. In addition because of the size, it becomes difficult for employees to feel as if they are contributing really to any meaningful activity. Also, the overall quality of the resources seems to be declining with the size of the company.