That's not a bad thing. Many of those guys are highly skilled and I hire them often.
They couldn't roll back to the previous version because they weren't using version control for the software.
I've seen some balls ups from UK teams too fwiw, but nothing that approaches that level of wtf.
Software controlling an oil field is a step above the bog standard CRUD app that powers most of the web. I'm very surprised that such a mess up could happen, and so was my friend who was in charge of the project.
The problem is that markets like India is seeing such a crazy growth that the market is full of inexperienced developers being passed off by outsourcing companies as far more experienced than they are.
Actually identify sufficiently experienced developers, and you don't have bigger problems with Indian dev teams than UK team teams.
You see exactly the same in the UK, but I suspect on a much smaller scale simply because we don't have the same growth and so the supply of inexperienced newbies makes up a substantially smaller part of the overall pool of developers available.
And before you ask me what's the big deal, I will teach you, for the price of the CC license
Edit: source, my brother has a senior position at one of the big four accountancy firms, they outsource a lot of dev work to India.