One very important thing I would like to add as a short term solution is the promulgation of MOOCs. They are book to developing countries like India. On a more philosophical level, I am a big proponent of self paced learning and if only city engineering colleges can put their hubris aside and adopt MOOCs, it would be phenomenal. What we then would need is just qualified graders and strict assignment/project policies. Even that looks like a moonshot in the current scenario.