You need to look at it from a much broader PoV than you are now.
We have about 7 million people graduating every year. This number will eventually double and stabilize. And with every few years, the quality of the graduates only increases. So this also increases their value outside the country.
What you are looking at is a few years from now while you should be looking at what will happen 15 years later.
You say we need to reduce population, but there is no need for that. 15 years down the line, pretty much all our people, or at least most of our people, will be able to afford graduate level education. This gives them the minimum qualification required to look for a job outside the country.
So our main aim isn't to create jobs only in India, but to get other countries to open up their markets to Indian labour. And this is a primary agenda for India when negotiating trade deals. We are asking for free movement of high skilled labour in Europe, US and RCEP.
RCEP:
http://www.livemint.com/Politics/oY...on-modalities-for-movement-of-skilled-wo.html
“Earlier, other members were not even ready to discuss services. Now they have agreed to include a separate chapter on Mode 4 services (movement of natural persons) in the agreement,” a commerce ministry official said, requesting anonymity.
When it comes to countries like China, we are okay with opening up our market to Chinese goods if they open up their market to Indian services, including movement of people.
EU FTA
https://thewire.in/26540/many-issue...u-agreeing-on-an-free-trade-deal-in-brussels/
Mode 4 covers temporary movement of natural persons. Liberalisation under mode 4 would mean the EU allowing more Indian professionals preferential access to the European labour market, which could boost remittances from the EU to India.
So opening up our economy would also mean other countries will have to open up their economies for Indian labour.
We are also trying to get WTO to reform.
http://www.livemint.com/Politics/it...-the-stage-for-a-clash-with-US-EU-at-WTO.html
The argument is if companies like Google and Ford want to sell in India, then the US should allow access to Indians in the US.
Our population is our biggest advantage.
Unrestricted immigration is dead. You have not been paying attention to bre-exit, Trump etc.
Indians settled in USA want their kids to have jobs. They care less about Indians in India. A lot of them voted for Trump.
India has to solve its problems on its own. Read birth control
18 million youngsters enter the job markets. Immigration can absorb 200,000 at most.