I thinks the discussion could be based on the type of product.
Comparision of Infosys and Reliance is Baseless, since they both are in different industries.
The initial struggle to set up their establishments was more or less similar.. Mr. Murthy got his first telephone connection after two years of filing an application.
Degree gives you a foundation..based on tried an tested concepts.. Work experience arms you with the knowledge of ground reality!!!
Combination of both is important..therefore i would say that education system should be designed in such a way that student have the opportunity to study and work at the same time.