Rankings are based on a number of factors - I have a degree from USA, one from Europe and one from India - Indian universities can't compete in terms of infrastructure, quality of education but the annual fees are often less than what you would spend in a semester in the US or Europe on textbooks. Don't know about China or Russia but most Chinese students that I've come across are competent but lag seriously behind in English; but this isn't the case with Taiwan where the students speak it fluently.