I know a lot of smart engineers from TCS who couldn't imagine doing an MS from the US (or for that matter even from India), because their family couldn't afford it. People who do not aspire to do an MS from Stanford certainly do not qualify being a "software donkey".
PS: No affiliation with TCS or Stanford other than having met smart people from both places.
I know a chinese Bus driver who plays better Golf than Tiger Woods but because he was poor he could not become a professional golfer. Now that reason does not matter nor the smartness. What matters is their current state. A TCS employee no matter how smart he is has very little positive impact on economy than an average Stanford graduate. TCS employee coming to US on H1B is less likely to create/contribute in building another Billion dollar company than say a Stanford graduate.
PS: No affiliation with TCS or Stanford other than having met smart people from both places.