You have done a good analysis of this ranking business.The screening process of IIM's & IIT is more responsible for what comes from these institutes.These students will do well even if they have to study antwhere else as well. The most damaging outcome of overemphasis on bookish knowledge & over dependence on CAT has been reflected in a frank acknowledgment by none other than the head of IIT's Mr Rao who concceded that students lead a retired life in institutes after going through a tough selection process.
