https://news.ycombinator.com/item?id=38317087
You have to look at things from a practical perspective and leave ego aside. Getting a job is selling yourself. Look at all the things sales people do to sell a product. Your the product, the buyers want to see a degree, even if it's from a mediocre university. So, you can remain where you're at and keep looking for the 1 in a million job while those people who did the University thing get there CV's moved higher up the stack.
Otherwise you're looking to move to a place where they don't care, but again you're looking at an entry level non programing job. You will have to prove yourself for at least 7-10 years with no degree, or become well known in the industry for your area. Doing that requires a lot of networking. Attend every users group and conference. Become a presenter, etc...
While I understand the Indian University sentiment here, there are many other opportunities for learning AND promoting yourself at the same time. For example, contributing to open-source software (especially software that is used by corporations) is a classic route for a reason.