The numeric surplus dates back to the 1960s.

As you note, the quality of Indian Engineering grads is debateable. 

In 2014 a leading Indian Telecom Engineer doing a speaking tour of North America for IEEE sections, etc.  told me that 9 out of 10 Indian Engineers can't do the job they were trained to do. He could have stayed in North America after getting his PhD at UVic, but chose to return. 

An Indian Reporter working on an expose of students hiring stand ins to write exams for them was murdered.