1. Only IT field has been explored in this talk. there are other branches too with huge presence. It would be interesting to have them covered.
2. Unless one wants to do an MBA, for MS USA is still the most lucrative place and i would disagree that indian's are facing difficulties in getting admission here.
3. It may be true in IT field that some people have gone back after some years of exposure in the US, but at the time time, we may also want to consider those who work in india for 3-4 years, then come to US for higher studies.
4. The increase in salary posted from 3 to 3.5 lakhs is still not much, i believe, to reverse the brain drain.
5. Jobs in india in IBM and Oracle might look challenging from a technical point of view, but it is not and many feel this after a few years of job. i don't think they offer a B.Tech engineer the challenging jobs of algorithm design and all. Mostly they would be doing is routine jobs and getting disillusioned from underuse of thier potential head to US for Master's, if they want to be in the engineering field.
Probably a more detail survey is required to conclude something concrete.