I am curious about this. Other than the US, UK and a few Scandinavian countries, what countries do you think speak English better than India?
1) The younger generation is much much less corrupt.
2) Almost nobody pays for a masters in science and engineering. Those who do startup eventually end up doing it in India. I know a bunch of my friends running profitable startups.
Look at those rankings for outsourcing. Also, we should look outside of outsourcing: there is a reason why the top research labs of IBM, MSFT, HP, GE etc have labs in India and not in those countries. More Indians will move out of business process outsourcing and into hard core technology and research outsourcing.
1) The younger generation is much much less corrupt.
2) Almost nobody pays for a masters in science and engineering. Those who do startup eventually end up doing it in India. I know a bunch of my friends running profitable startups.