I think that is the case. There is no difference between the education system in India 300 years ago and now. Then, you had people memorizing poems about daffodils and daisies in order to get an arts degree. This would then mean that they could become low level clerks in a colonial administration. Today, you have people memorizing what a transistor is or a linked list in order to become engineers in an offshore development firm.

Same Shit; Different Day.

This mirrors my opinion, every country has subpar students. I wonder how many of these students are actually quality engineers. Another explanation is that they are graduating from institutes that are not demanding or preparing them for real world challenges.

It says nothing about the quality - there are just too many IT grads and engineers. Salaries will drop.

Seems like a problem that will figure itself out over time, my experience has been that the industry has a very high attrition rate for those who are under talented. If you love what you do and actually possess skill the long term prospects aren't terrible in any kind of way. Of course when I say 'talent', I mean the strategic onus is on the individual to find higher profile work.

+1 problem with the education system, if the hustle is that CS is a golden ticket or some crap like that. The gems will always shine and get snatched up by more mature players.