I don't often agree with Cristina Odone, but...

[sasguru]

Perhaps they are not a competition to you ( ), but they pose real competition to hundreds of thousands of English graduates!

To be fair graduates of English shouldn't really expect that many jobs.
Unless you mean English graduates of which I am one - albeit from 25 years ago.
My point, which you miss again, being thick, is that if your skills are only good enough to compete with the limited skills that these Indians bring ( and believe me, every company I've worked in has a floor of Indians - 95% of whom have no comms, problem solving or business skills) then you should look at the value of your degree.
I have no doubt that under labour who changed the Polys from institutions awarding good techie qualifications to "Unis" offering tulipe quals not worth the paper they're written on, that this has come to pass.
So the only real argument is that their tulipe people have replaced our tulipe people - which I guess is some sort of point.
Good grads from good unis have NO PROBLEMS AT ALL GETTING JOBS.
T'was always thus.