There have been numerous articles in Infoworld and Information Week that talk about how quickly they crank out the IT people in India. You can train a decent IT person in a year. A veteran in 2 years.
I'm not talking 2 years out of college. I mean 2 years after high school as long as they already have a solid background in using computers, the Internet, etc.
I am sure an IT person with 8 years experience having gone to a 4 year Univerisity previous to that disagrees but it's people like me that hire IT people. An 8 year veteran is going to be massively better still than the 2 year veteran but it's not specialists and experts that are losing their jobs to India. It's the rank and file database admins, ASP/PHP developers, etc.