Purpose - The aim of this paper is to deal with the purpose, process and prospects pertaining to the rapid internationalization of the Indian information technology (IT) services multinational corporations (MNCs) with a view to explore the issues, challenges and strategies of MNCs from emerging economies. Design/methodology/approach - The paper presents the key findings of in-depth interviews with the Chief Executive Officers (CEOs) of the top three Indian IT MNCs on a range of issues pertaining to international management. Findings - The findings suggest that the Indian IT multinationals are typical born-global MNCs that have successfully leveraged on the availability of large and low-cost Indian IT talent pools and have pioneered the global services delivery model from a global network of development centers. They are currently diversifying into emerging markets where they realize that they need to localize their workforce and business models. They face several challenges in globalizing their talent pool and becoming truly global corporations. Practical implications - The MNCs from emerging economies are adopting a different growth trajectory and strategic mindset as compared to traditional, western MNCs. They bring several distinct country- and firm-specific advantages to the twenty-first century global economy and are eager to establish themselves as innovative global players in their own right. Originality/value - The CEOs play a defining role in shaping the strategy, destiny and direction of a firm. By looking at the internationalization of the top three Indian IT multinationals from the perspective of their CEOs, the strategic apex, we get invaluable, though incomplete, insights into the motives and constraints behind their strategy formulation and implementation.