I have done PhD from a prominent esearch insitute in India and now doing postdoc outside. the question raised over here does not have any context. for that matter every professional degree should be then re-evaluated (including his own degree in economics, i suppose). to agree with some of the other replies, i do agree that in many university set up in India (except the self-governed institutes), the standard of research not up to the mark...but that is not a fault of the student...but the mentor, who cannot come up with or guide the student to take up a nice challenging problem. another issue is, in India most of the faculties are fighting to prove their capabilities by publishing in Journals and so a safe-guard project that will fetch a couple of papers is a good-enough criteria to do PhD. Also, why to point out only this class of people, what about engineers, doctors...etc? do they prove their capability...their intellectual growth at all point of their career? so, please think rationally before you suggest something which creates sentimental....intellectual disturbance in the society.
