Is there a necessity to allow foreign B Schools to setup their campuses in India?

It is said that India is the youngest country in the world with majority of its population between 16-40. It is also said that the country's major differentiating factor is the youth population. Having such a massive youth population necessiates the country to concentrate towards the education system.

The county which is proud to of having setup the ever first university in the world is now discussing about allowing competitors from foreign land. Is it really necessary to allow this? Are we not having quality education system in place? What are we missing to bring our industries to global standard?

Having studied in a foreign B-School, I strongly feel that our Indian education system needs basic reforms. We need to look back in history of India and have to reflect upon how we learnt in the past. We have to start reseraching from ancient period to have a clear understanding of our basic method of learning style. Also, I personally feel that the gurukul style of learning should be in place. Even from secondary schools there should not be any teachers. There should only be mentors who facilitate their junior scholars to learn. Unless we try doing this we will not be able to compete against foreign standards.