India is said to be the country of cheap labor and great human resources. Indian economy is going great and being termed as one of the fastest growing economies in the world. Expert says that cheap labor is one of the prime factors why several top MNCs is coming to India.

The major question is that why India offers cheap labor to these companies. It might be answered as India has no world-class educational and professional institutions (except few ones) to produce skilled labor in the country. So, we have no options except offering cheap labors to foreign companies.

The report says that no Indian universities, including the Indian Institutes of Technology, figures among top 200 universities in the world this year. India’s so-called nearest competitor China has done great job on higher education front. There are six Chinese universities listed in the list of 100 top universities in world. This is a clear signal that China has showed rapid stride to make the Communist country a giant in higher education soon.

The Harvard University has ranked at the top in the list of top 200 universities this year followed by Cambridge and Oxford at second and third positions as well. The survey says that the universities located in the US and the UK were placed in the top 10 in the list.

As far as the Asian countries are concerned, besides China, universities for Japan, Singapore, Hong Kong, Taiwan and South Korea are also there in the list except India. The prestigious IITs were placed in the list of top universities in all the previous surveys conducted by The Times Higher - Quacquarelli Symonds World University Rankings began three years ago. However, in this year ranking the IITs have gone out of the list.

The IITs are not in the list because the survey has assessed each IIT as individual institution and not the “IIT system as a whole.” And the result was... none of the seven IITs was found excellent enough to find a place in the top 200 universities in world.

On the other hand, IIT Delhi and IIT Mumbai are in the list of world’s top 50 technology institutions at the rank 37 and at 33. China’s Tsinghua University is also in the list at 16th rank.