On the subject of "getting more phds" etc....
If one really thinks of it, the MS over a BS is really a joke. For example, there is little one actually comes up with even in a 30-page paper double-spaced thesis. One-inch on all sides, three pages for references, three for intro, four for related work, five for "theory," three for conclusions and "discussion," and three pages taken up in figures, and one in equations leaves little. Thank goodness, we ask people to just "link" their code, instead of printing it out with the report now. The PhD is another slightly larger joke. Just think about it. You have typically 3 years on top of the first one or two you've wasted, so it isn't until the last year that you are actually doing something. You spend some time passing "qualifiers" and "rqes" and such like, that's one year. You get into a research group and project, that's another. Finally, you hack something together and, looking for post-doc or faculty. If you are really good, you'll have hammered journals each year, if not, one in the last year. Oh, there are some, who've stayed for years and say why leave, learning and publishing like crazy, they don't count. They become those gurus everyone is scared of. Some want to leave in a year. They too everyone is scared off, for being associated with. They also don't count.
Now, when you finally get an academic tenure after all the mudslinging, politiking, shining and whining, you say, well, now I'd really like to learn my subject and that's when it really begins. I mean the love, the passion, the joy of doing it all comes flooding in -- I am generalizing -- but that seems to be largely true. But now you have spent about 10 years in the field and you have another 10 left may be at 70% efficiency before you look "elderly."
So, first four years learning funda, one year wastage, two years learning again, one year slogging, two years slaving, six years sweating, and back to funda again. India can dramatically leap frog this process by looking at the "research and discovery" process in a different light.
1. Towards the end of your BTEch, you have to come up with a project. If it's the normal idea, you go to IIM, Wipro or something. If it is a cool idea, you are given a scholarship to stay. That scholarship by itself will last two years. Course work is up to you and you can create your peer group. If you join a research group, you can stretch this funding to four (two plus two).
2. You publish three to four papers in journals considered to be important in your field and then you are done. Just staple all papers call yourself Dr. If you are done in two itself, you get another two years of scholarship to do follow-on work, which really is money to go tell the world about yourself and find a job. The system thinks you are a star and will try to place you as faculty in the country on a priority basis.
3. If you took four years to complete by doing two scholarship+two research group, then you might have really good luck becoming a post-doc somewhere or joining industrial research groups or something similar.
4. You could also take four years to complete by two scholarship+two sponsorship from anyone. Then go make connections that way.
After four, if you haven't reached the publication mark, the system starts to squeeze you out.
5. Irrespectively, after four journal publications, you become "Dr." and you get the authority to become investigator on grants, awarded through the usual peer review process. You can carry on with your work, individually, with someone, as faculty or as an independent researcher, part time or fulltime. As you proceed, the govt will measure the "return on investment" and uses that to rate you in your career. Return on investment is tbd.
6. The govt. secures the two year funding for 25-30% of undergrads, and 30% of those for another two. It creates a large seed funding program (small grants many) to account for the three to five years after the first four. And it creates a secondary layer of fewer, but larger grants to create momentum. Finally, it works with industry to create "mega-joint-research ventures" that become the "production factories" for "highly trained" workforce.
OK, back to real work.