Pros
Advantage is flexible work timings, flexible work culture a lot of independence in comparison to other similar companies. IBM Global in itself has lot many good initiatives which employees from India can also participate and take advantage like Corporate Services Peace Corps, IT Architect and choosing a good career path. But I am sure for that if you manage to find a good mentor who is unbiased then its good in IBM. Probably work culture in locations other than Kolkata is much better and professional.
Cons
IBM Kolkata has lot of Dada Culture and good for people who belong to this place and understand local language. But there is a large bias for people from outside in terms of opportunities and promotions even though they are very good. People talk in local language and make others uncomfortable. There is lots of politics and people do not value real work but instead flattery works. So if you are from outside please do not work in IBM Kolkata and in case you do then do not expect any growth. Also promotion in project doesn't mean your salary has increased. That means they make u work more on same salary.