I would have partly agreed with Snapdeal since finding good engineer has always been hard.

But this filtering by IITs/NITs/BITs shows - how out of touch they are. I know some of the most brilliant programmers in Bangalore/Pune and they are not from these "premier institutes". In fact, being from NIT Trichy myself, I have concluded that - most engineers from these colleges are risk averse and likely stick to a well trodden path of B.Tech + MBA or head to US for MS.