Good way of putting your honest thoughts.. while it may be true in some cases(Read MBA) not in all for sure.. While we have IIMs which are very good for MBA , tell me one Indian university(including the IITs) which may offer you a good quality Phd education. While IITs are good for graduate education but certainly not as Research Institutions. Most of the indian students who have some interest in Research cant find a good option in India. Also, Funding is another issue. IITs offer something like Rs 6000-7500 per month to a Phd student which is not something you can have a decent living now days compared to $1500-2500 stipend that you normally get as a Phd Student in United States.
