"All these reports are bogus. ", I thinks that's a bit arrogant statement. Sitting in a cocoon and judging about the job market in India doesn't make you an expert( though you may be clocking 100 crores in revenue). The country indeed has employability problem which certainly is attributed to the quality of talent available, which in turn is the responsibility of the academic system we have, which in turn depends on the industry for guidance, which in turn doesn't have any time for the guidance, and therefore spend their time and energy by going to IIT's or big institutions to get the cream.
somehow there is an attempt to show that IIT's are world class. They don't even figure in the Top 200 univs. Prime Options site is as good as Housing site. they have developed it at a fraction. This is all free publicity for valuation. sad to see IIT guys doing meaningless jobs and no solid engineering