Indian higher educational institutes and their ratings correlate well on a log graph. This is the way it should ideally be (it is a well designed filter). Only problem is that the highest rated institutes are few and far between. The students admitted in these top-tier universities have cleared entrance examinations with a standard deviation of less than 5% (this is a guess, it is likely even less). A lot of potentially good students are therefore left out of an opportunity for better education (rather a better starting job, due to the hiring culture).
It is true that the 'education' in India sucks - it is outdated, and often not worth the 4 years spent in acquiring it. However, the log correlation ensures that top-tier universities are damn hard to get into, and those few than do get into them (for example, the IITs) are by far the best in the world (compared to anywhere).
Given some more economic pressure, more top-tier universities should popup soon. As for finding customer service workforce, I think, its about time India starts offshoring it elsewhere ;)