The problem with universities is they create a self fulfilling prophecy, one that most students graduating from their will support, willingly or unwillingly, for their own benefit. If I go out and tell that XYZ uni I graduated from is not worth it, I would also be decreasing my chances of getting a job.
I know the 4 years I spent in my college were not worth it in an industrial perspective. Yes, I made friends, I learned how to learn, and I also got a degree to show to potential employers. But going back 4 years, would I repeat my decision? Absolutely not.
It's hard to accept what you did. But then again, you never graduated, so it might as well not affect you.
Mumbai is one of those places where the sea dumps all it's waste. Of course, a lot of it must have been generated by Mumbai itself, but some must also be coming from elsewhere.
Extradiction would be unlikely for such crime(even cases of terrorism can take years for extradiction, or may not even take place). But it would be possible to get them arrested in India.
That said, there are literally millions of people in India who have graduated with whatever degree/certificate, can speak English, and are willing to work in any kind of scam, as long as they get money to buy food. You can setup a office in Noida/Mumbai/Pune/Bangalore etc, and hire these people for dime a dozen. Things getting risky? Close everything and start anew in another city.
Problem lies in poor law enforcement in India, and lack of awareness among old americans.
I can buy apples at a somewhat objective price by comparing the price provided by other sellers in nearby stores. Also the price will be mostly affected by supply vs demand.
OTOH, softwares prices can be affected by too many parameters.
Then again, IT industry is a child when compared to say, mechanical or Civil industries.
Your first method just overprices/wrong-prices the whole market. I'd argue that supply-demand doesn't give fair pricing (which presumably is what's meant [in part] by objective), if you can make something very cheaply does that mean you objectively deserve to be very rich simply because you've got a corner on that market?
TLDR: The best go to US, the next best to MNCs and startups, the rest are the ones you get when you pay peanuts.
Here's how Indian engineers get jobs.
The very top(maybe 0.01%) get directly hired by US MNCs. This gives some people the "Indians are smart" stereotype.
The next top(0.01% - 1%) work for US MNCs in India, or the few top homebred companies. Foreigners will rarely deal with them, as they are working on products, not services.
The next few go into startups and some good service companies. These service companies are costly, after all, they have to pay much higher than what Infosys or TCS would do, to maintain these people. I don't know how many american tech workers come across these people, but a few must be. These people are probably the source of few comments saying that "some Indian workers I worked with were good".
Now, the lower ones, will get into likes of TCS, Infosys and hundreds of small service companies that work on basis of "hire enmasse, at cheap, and sell at little higher cost". Now if you are paying peanuts, it is very foolish to expect people like Linus Torvalds. This gives people the, "Indian engineers are shit" stereotype.
I know the 4 years I spent in my college were not worth it in an industrial perspective. Yes, I made friends, I learned how to learn, and I also got a degree to show to potential employers. But going back 4 years, would I repeat my decision? Absolutely not.
It's hard to accept what you did. But then again, you never graduated, so it might as well not affect you.