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great idea : look @ india- what you say abt MIT is actually true for a lot of other colleges in Developed countries. But in India where "Need for education is very high and growing fast" there is a different approach there is a meritocracy for all the best colleges, and for the aristocracy there are donation based colleges. Wherever meritocracy is involved ,the percentile of student getting in is 97-99 (only for engineering/medicine) 3% of anything in India is a large number :). Anyone can think of joining the best educational instt. and work hard to be there. The only problem is that a not of in-house research is happening or seeing the light of the day the biggest set of R&D instt. are actually owned by Govt. and the system is far from perfect. People opting for phD are very few ratio between under graduates , graduates and phDs would be very very low ...