I read the article as well as the resposes so far. I am also associated with governance of an engineering college. My comments:
If you really analyse, we also produce about 25000 engineers only, who can stand global comparision.
Excessive govt. controls and regulations have stifled and starved colleges of funds and even teachers. The country has large unemployment, but there are several thousand vacancies in engg. colleges alone! Govts. prefer to spend on security of ministers and their cronies by cutting on staff recruitment in colleges. To keep voters happy, they keep the fees low and prevent colleges from recovering cost of edn. IITs could sustain quality because they are autonomous and do not come under purview of AICTE, UGC, DTE, etc. As govt. controls everything about education, who better than politicians to 'manage' govt & its machinery! Hence, politicians entry into engg. edn.
Why govt. agencies for accreditation? Everyone knows how NAAC grades are obtained.
Soln: Least govt intervention. In US, univ. are private, accreditation is private, quality standards are set high by competition and industry. Free edn. from the clutches of banal & illeterate politicians.