Pros
The kind of learning you get at TI is unparalleled to anywhere else. As long as you are doing the right thing, no one stops you from doing what you would like even in an exploratory fashion. Moreover the kind of respect in general that you get at TI and the culture , even though much degraded from what it was before is still better than most other MNCs in India. Also the opportunity to work beyond India and in a more global leadership role is far more available and acceptable in TI India than in other MNCs in India.
Cons
For very senior experience levels, opportunities are less in India, especially on the business or management side, If you are doing pure technical work, there are far more opportunities. So growth after a point even if you're a star performer, becomes slightly tough.