''Knowledge without application is useless and application without knowledge is a dangerous thing''
In context of India...educational qualification play a major role in the process of selection(call it process of elimination)for a job where you gain experience.
In global scenario....the situation at present is bit different...with experience playing a greater role in case of expert jobs(specially technical).Offcourse Educational qualification matters in case of initial selection...but experience matters for posts/jobs which demand immediet application of skills.