On India Strategy Think Tank I had this to say about Quality Certifications in Indian s/w industry:

Well I really don't know how CMM certification operates now...but
when I joined one of India's big 5 IT services firm I realised what a
sham the CMM level x certification was.

In those days at least either a particular location of the firm or
particular project could go in for a CMM level x certification and
then the company would go about telling everyone that it had done
it!! Achieved that elusive CMM certification.

And the CMM certification is not like a ISO certification which keeps
getting assessed again and again...once you have it for one project
you can say the whole company has it !!