The issue has to do with Institutions & services firms here in India. It is normal to see IT Engineers (coders) define they career as X programmer where it's now time for every programmer to have full-stack skills and treat programming language as a drill-bit in a tool-box. Since the services companies benefited earlier by recruiting a graduate and training them to be X programmer for life, the institutions didn't ha…
Management positions have long been seen as replacements for IAS.
The 1% you talk about parse XMLs at Google and Microsoft. The 99% parse the same XMLs at services firms. The 1% thinks they are special because of a association with a certain Ivy league brand name.
Lets talk of the Indian 1% when somebody in a Indian university writes some thing the equivalent of a Linux, Perl or FreeBSD.
Lets not over glorify these placement agencies as some institutes of engineering excellence.
For what its worth the 99% what people generally berudge look down upon essentially is employed in Indias space programs that sends probes to mars and moon, built bulk of Indias pretty advanced tech defence infrastructure.
Only thing IITians are good at is self worship.