I spend 6 months working from Sunnyvale and 6 months working from India. I have seen a remarkable improvement in quality of engineers. I think IT industry as such pretty much doomed because of automation, saturation and US immigration restrictions. The fresh graduates now I meet want to work on products. Products that are meant for Indian markets and other markets.

India can take a big lead in AI and other things if it managed to reform its higher education and get rid of government controls in that space. If India opens up higher education sector much higher quality talent can be bred there.