<p>Sure it does. India values engineers much more highly than the US does in comparison to other professions. That is the point he and the rest of us are making. The salaries and quality of students in India/China/Germany/[insert stereotypical smart engineering country here] are largely (if not wholly) a product of the fact that those countries put more prestige on engineering jobs, so the top students start going into engineering and staying in engineering instead of stuff like finance or ibanking or other jobs that are more prestigious to the general population here in the States.</p>